Elf Beauty shines as market assesses Rhode acquisition bet
Shares Elf Beauty ELF.N jump as much as 33.5% to $120.81 - highest since January 2025
Co said on Wednesday it has acquired Hailey Bieber's Rhode in a $1 billion deal
Elf refrained from providing fiscal 2026 forecast due to uncertainty surrounding import tariffs despite beating Wall Street expectations for Q4 sales
Following the news, brokerage Canaccord Genuity raised its PT to $114 from $105, maintains "buy" rating
"We believe management has a strategy in place to minimize tariff impacts" - Canaccord Genuity
Brokerage sees acquisition as fairly priced for a high-growth, margin-accretive business with global expansion potential
Bieber will continue her role as founder and will also act as a "strategic advisor" after the expected deal closure in Q2 2026
ELF down ~28% YTD vs 3.74% rise in S&P 500 Personal Care Products Sub Index .SPLRCCOMS
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