BofA raised the firm’s price target on Ulta Beauty (ULTA) to $575 from $500 and keeps a Neutral rating on the shares after the company reported Q2 EPS “well above” consensus on better sales and comp growth across all categories. The firm is raising its FY25 and FY26 EPS estimates by 4% to reflect the Q2 beat and continued progress on the turnaround, but thinks recent sales momentum is balanced by near-term margin pressure given a pickup in investment spending, the analyst tells investors.
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Read More on ULTA:
- Ulta Beauty: Hold Rating Amid Strong Performance and Planned Investments
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