BofA raised the firm’s price target on Ulta Beauty to $510 from $490 and keeps a Neutral rating on the shares. A comp and margin beat in Q3 should help allay some investor concerns, but Q4 comp guidance for “flat to up modestly” paints “a picture of a more difficult backdrop,” the analyst tells investors in a post-earnings note. The firm thinks long term sales opportunities are balanced by near-term comp and margin pressure, the analyst added.
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:
- Ulta Beauty (NASDAQ:ULTA) Shines after Beautiful Earnings Report
- Early notable gainers among liquid option names on December 1st
- Ulta Beauty price target raised to $485 from $440 at Citi
- Ulta Beauty price target raised to $535 from $505 at JPMorgan
- Ulta Beauty price target lowered to $583 from $587 at Barclays