|Analyst / Firm||Company||Price||Rating||Price Target||Upside/Downside||Date|
Ulta Beauty IncULTA
3 days ago
#298 out of 4417 analysts
65%66 out of 102
Risk vs Reward
JP Morgan's Christopher Horvers raised their price target on Ulta Beauty (NASDAQ: ULTA) by 5.9% from $505 to $535 on 2023/12/01. The analyst maintained their Strong Buy rating on the stock.
Post the 2023/11/30 release of Ulta Beauty's Q3 2023 earnings report, Horvers argued that the "burden of proof shifts to bears" because management increases its revenue and margin guidance.
The analyst added that, in their view, "Ulta Beauty is a winner in a good category where vendors need it and the stock should trade at least in line with the market."
For Q3 2023, Ulta Beauty reported:
For FY 2023, management guided:
CEO Dave Kimbell commented: “Q3 represented another strong performance by the Ulta Beauty team, as sales, gross profit, and diluted EPS all exceeded our internal expectations.
"Our traffic trends remained healthy, our brand awareness increased, and we expanded our loyalty program to a record 42.2 million members.
“As we look to the future, the outlook for the Beauty category is bright, and I am confident Ulta Beauty has the right plans in place to delight our guests this holiday season, expand our leadership position in specialty beauty retail, and deliver long-term shareholder growth.”
a day ago