Citi lowered the firm’s price target on Ulta Beauty to $400 from $485 and keeps a Neutral rating on the shares. The firm expects a Q1 earnings per share miss vs consensus driven by weaker comps, adding that it also believes management will take a “more conservative” view on guidance. The recent step-up in competition will also be a big focus of the quarterly report, with fears that Ulta must invest more in promos and marketing to maintain market share, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULTA:
- Ulta Beauty price target lowered to $505 from $595 at Piper Sandler
- Ulta Beauty price target lowered to $475 from $565 at Stifel
- Ulta Beauty price target lowered to $475 from $500 at Oppenheimer
- Apple upgraded, Tesla downgraded: Wall Street’s top analyst calls
- Ulta Beauty downgraded to Equal Weight from Overweight at Barclays