Oppenheimer analyst Rupesh Parikh raised the firm’s price target on Ulta Beauty to $535 from $505 and keeps an Outperform rating on the shares. Ulta reported another above-plan quarter, with EPS easily topping consensus and stronger sales and gross margins fueling another major upside surprise, Parikh tells investors in a research note. The company also meaningfully lifted FY22 guidance, and the range still appears conservative, the analyst adds.
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Published first on TheFly
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Read More on ULTA:
- Ulta Beauty raises FY22 EPS view to $22.60-$22.90 from $20.70-$21.20
- Ulta Beauty raises FY22 revenue view to $9.95B-$10.0B from $9.65B-$9.75B
- Ulta Beauty reports Q3 EPS $5.34, consensus $4.15
- Ulta Beauty options imply 5.0% move in share price post-earnings
- Notable companies reporting after market close