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E.l.f. Beauty Inc. (NYSE:ELF) shares are sliding Monday, falling nearly 8% and hitting a new 52-week low of $55.35 as analysts turn more cautious on the stock.
The broader market remained positive, with the NASDAQ Composite up 0.45% and the S&P 500 gaining 0.34%.
The sell-off follows a downgrade from Morgan Stanley on May 1, when the firm cut ELF to equal weight from overweight and lowered its price target to $67 from $80.
Investors are now focused on the company’s Q4 earnings report due May …
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