JPMorgan analyst Andrea Teixeira upgraded e.l.f. Beauty to Overweight from Neutral and raised her price target for the shares to $17 from $11. Nielsen sell-through data continues to accelerate and the company’s guidance for the year will likely prove conservative, Teixeira tells investors in a mid-morning research note. The analyst points out that Nielsen data this morning indicates that e.l.f.’s sell-through rate is up 9% year-over-year in the 12 weeks ending June 29. She now sees potential for “significant upside” to the company’s fiscal 2020 guidance. Shares of e.l.f. Beauty are up 6.5% to $15.15 following the upgrade.