Christopher Horvers, an analyst from J.P. Morgan, maintained the Buy rating on Ulta Beauty. The associated price target was raised to $606.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Christopher Horvers has given his Buy rating due to a combination of factors that highlight Ulta Beauty’s strong market position and growth potential. The company is expected to benefit from a return to long-term category growth trends, with Ulta’s unique combination of mass and prestige offerings leading to share gains. This positioning is further strengthened by Ulta’s loyalty program, which provides valuable consumer insights that surpass those of the brands themselves.
Additionally, Ulta’s strategic initiatives, such as optimizing promotions and expanding its marketplace, are anticipated to drive improved margins and earnings growth. The company’s ability to offer a diverse range of products and services, including a leading hair care assortment, positions it uniquely in the market. With a raised price target and expectations of upward revisions in earnings forecasts, Horvers sees Ulta trading at a premium due to its strong industry standing and growth prospects.