DA Davidson raised the firm’s price target on Ulta Beauty (ULTA) to $625 from $585 and keeps a Buy rating on the shares after its Q2 earnings beat and guidance raise. The company is still facing strong competition from online marketplaces like Amazon (AMZN) and Walmart (WMT), but the evidence seems to support the firm’s view that Sephora/Kohl’s was the big issue and now that is in the past, the analyst tells investors in a research note. The firm further cites improved industry trends seen in most of Ulta’s competitors as well as acceleration in the newness of products.
Claim 55% Off TipRanks
Trade AMZN with leveragePublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULTA:
- Ulta Beauty price target raised to $625 from $585 at DA Davidson
- Ulta Beauty price target raised to $600 from $575 at Baird
- Ulta Beauty price target raised to $605 from $580 at Raymond James
- Ulta Beauty price target raised to $680 from $640 at UBS
- Ulta Beauty’s Strong Growth Potential and Strategic Positioning Justify Buy Rating and $600 Price Target by 2026