In a report released today, Simeon Gutman from Morgan Stanley maintained a Buy rating on Ulta Beauty (ULTA – Research Report), with a price target of $460.00.
Simeon Gutman has given his Buy rating due to a combination of factors that highlight Ulta Beauty’s strong market position and potential for growth. The company’s focus on the US market, coupled with its resilience in the beauty category, positions it well to withstand economic uncertainties. Ulta’s product sourcing strategy, with minimal exposure to tariffs and a strong domestic supply chain, further mitigates risks associated with global trade tensions.
Additionally, Ulta’s strategic initiatives to rejuvenate its brand and drive sales growth are promising. The introduction of new and innovative products, such as Beyoncé’s hair care line, and the expansion into wellness and personalized offerings, are expected to enhance customer engagement and broaden market reach. With no debt on its balance sheet and conservative financial guidance, Ulta Beauty presents a compelling investment opportunity with a favorable risk/reward profile.
In another report released on April 2, UBS also maintained a Buy rating on the stock with a $490.00 price target.