Loop Capital keeps a Buy rating and $520 price target on Ulta Beauty after the company’s Q2 earnings beat and guidance raise, saying the firm was encouraged by the quarter given the widespread investor concerns about increased promotions. Beauty product sales will remain fairly resilient over the remainder of 2023, and Ulta Beauty will continue to gain market share, the firm tells investors in a research note, adding that the stock remains its favorite GARP long idea as the crucial holiday selling season rapidly approaches.
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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