Citi analyst Kelly Crago raised the firm’s price target on Ulta Beauty to $475 from $460 and keeps a Neutral rating on the shares. The analyst expects an earnings and sales beat in fiscal Q2 but says management will reiterate the fiscal 2023 outlook given macro uncertainty and slowing category trends. The fir sees the stock’s risk/reward as balanced heading into the Q2 report.
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>>
See the top stocks recommended by analysts >>
Read More on ULTA:
- TD Cowen retail/luxury analysts to hold an analyst/industry conference call
- Best Buy names Ulta Beauty CEO Kimbell to board
- Piper sees ‘compelling entry point’ after Ulta Beauty visit
- Ulta Beauty management to meet with Piper Sandler
- Argus positive on Ulta Beauty’s business partnerships and loyalty programs