J.P. Morgan analyst Christopher Horvers has maintained their bullish stance on ULTA stock, giving a Buy rating today.
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Christopher Horvers has given his Buy rating due to a combination of factors that highlight Ulta Beauty’s strong performance and potential for growth. The company has demonstrated impressive upward revision momentum, with significant earnings beats and strong comparable sales growth, particularly in the prestige category. This performance has been bolstered by strategic initiatives such as the Space NK acquisition, which have contributed to margin expansion and share gains.
Looking forward, Ulta Beauty’s conservative guidance suggests continued momentum, with expectations for stable consumer behavior and ongoing market share growth. The company’s unique position in offering both mass and prestige products, along with its comprehensive loyalty program, enhances its competitive edge. These factors, combined with a favorable industry outlook and Ulta’s strategic positioning, support the analyst’s price target of $600 by December 2026, reflecting a premium valuation based on anticipated earnings growth.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $614.00 price target.