On Dec 06, major Wall Street analysts update their ratings for $Ulta Beauty (ULTA.US)$, with price targets ranging from $350 to $500.
J.P. Morgan analyst Christopher Horvers maintains with a buy rating, and adjusts the target price from $472 to $480.
Citi analyst Kelly Crago maintains with a hold rating, and adjusts the target price from $390 to $450.
Barclays analyst Adrienne Yih maintains with a hold rating, and adjusts the target price from $328 to $410.
Wells Fargo analyst Ike Boruchow maintains with a sell rating, and adjusts the target price from $300 to $350.
TD Cowen analyst Oliver Chen maintains with a hold rating, and adjusts the target price from $380 to $450.
Furthermore, according to the comprehensive report, the opinions of $Ulta Beauty (ULTA.US)$'s main analysts recently are as follows:
The comp inflection for Ulta Beauty occurred earlier than market expectations, contributing to an uptrend in the shares. The outlook for Q4 is seen as conservative, yet the surroundings of a heightened competitive environment and category headwinds persist.
Ulta Beauty's transition to slightly positive comparable store sales and improved year-over-year promotional margins compared to Q3 are seen as affirming strategic plans, with performance still excelling past 2019 levels. This development further counters the structural bearish perspective. Analysts note that Ulta's strategic positioning heading into 2025 appears increasingly promising.
Ulta Beauty performed strongly in Q3, surpassing sales and earnings expectations while also lifting its fiscal 2024 projections across all metrics following the Q3 success. However, Q4 is anticipated to present challenges, with expected declines in comparable store sales.
Ulta Beauty's recent sales and earnings surpassing consensus, coupled with management's effective use of these benefits for full-year guidance adjustments, serves as a positive indicator of managerial efforts to address previous operational challenges.
Here are the latest investment ratings and price targets for $Ulta Beauty (ULTA.US)$ from 7 analysts:
Note:
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