Loop Capital analyst Anthony Chukumba downgraded Ulta Beauty (ULTA) to Hold from Buy with an unchanged price target of $510. The firm cites valuation for the downgrade as opposed to a more bearish view on the company’s fundamentals. Loop believes its bullish outlook for Ulta is now priced into the shares. As such, the analyst awaits a more attractive entry point to again recommend the shares.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULTA:
- Ulta Beauty’s Strategic Acquisition of Space NK: A Catalyst for International Growth and Enhanced Market Performance
- Ulta Beauty’s Strategic Acquisition of Space NK: A Low-Risk Venture with Growth Potential
- M&A News: Ulta Beauty Slides into the UK with Space NK Acquisition
- Ulta Beauty acquires Space NK from Manzanita Capital, terms undisclosed
- Ulta Beauty to purchase Space NK from Manzanita Capital, Sky News says