DA Davidson lowered the firm’s price target on Ulta Beauty to $495 from $540 but keeps a Buy rating on the shares. The company is “back on the beat and raise” path with its Q2 results after inline performance in Q1, even though the quarter wasn’t perfect and comps did slow a bit from last quarter, the analyst tells investors in a research note. Beyond the short term, 2023 will likely be Ulta’s peak investment year, meaning margin should reaccelerate in 2024, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ULTA:
- Ulta Beauty price target raised to $375 from $350 at Wells Fargo
- Ulta Beauty price target lowered to $550 from $560 at Baird
- Ulta Beauty price target raised to $571 from $570 at Deutsche Bank
- Ulta Beauty raises FY23 EPS view to $25.10-$25.60 from $24.70-$25.40
- Ulta Beauty reports Q2 EPS $6.02, consensus $5.85