Canaccord analyst Susan Anderson raised the firm’s price target on Ulta Beauty (ULTA) to $542 from $510 and keeps a Buy rating on the shares. The firm said they reported better than expected results as management highlighted strong execution across the board, including in-store execution from better in-stocks and customer service experience helping drive conversion, better promo management helping hold GM, and newness and innovation driving traffic and engagement.
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Read More on ULTA:
- Cautious Outlook for Ulta Beauty Amid Margin Erosion and Economic Uncertainties
- Ulta Beauty Reports Strong Start to Fiscal 2025
- Closing Bell Movers: Gap down 15%, Elastic off by 11% on earnings
- Ulta Beauty up 8% at $455.12 after Q1 earnings beat, guidance raise
- Ulta Beauty reports Q1 EPS $6.70, consensus $5.80
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