Deutsche Bank Reiterates Buy Rating on ULTA Salon (ULTA) While Noting Beauty Sales Were 'solid but softening' in July

Deutsche Bank analyst Paul Trussell reiterated a Buy rating and $548.00 price target on ULTA Salon (NASDAQ: ULTA).

The analyst comments "Overall, the beauty category continues to showcase solid but softening data points with July marking the first month of YOY increases in promotional activity since December 2021. The read-throughs from beauty vendors remain favorable, but the implied SSS for ULTA (mid-teens, in line with the buy-side bar, in our view) point to a more narrow beat vs. recent history, which could cap share performance when the retailer reports 2Q results on 8/25."

For an analyst ratings summary and ratings history on ULTA Salon click here. For more ratings news on ULTA Salon click here.

Shares of ULTA Salon closed at $392.90 yesterday.

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