As previously reported, Loop Capital upgraded Ulta Beauty (ULTA) to Buy from Hold with a price target of $520, up from $490. The company’s luxury brand expansion represents a multi-year comparable sales growth driver, while the continued rollout of Ulta Beauty at Target (TGT) shop-in-shops will drive incremental income as well as Ultamate Rewards memberships, the analyst tells investors in a research note. The recent uptick in shrink will also dissipate over time, the firm states, adding that Ulta Beauty still generates strong free cash flow.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ULTA:
- 3 Best Stocks to Buy Now, 6/13/2023, According to Top Analysts
- Ulta Beauty upgraded to Buy from Hold at Loop Capital
- Ulta Beauty Stock (NASDAQ:ULTA): Should You Buy after the Big Pullback?
- ULTA Sinks as Theft Trends Impact Financial Results
- Mixed Earnings, Soft Guidance Makes ULTA Look Downright Ugly