Evercore ISI Reiterates Outperform Rating on ULTA Beauty (ULTA)

Evercore ISI analyst Michael Binetti reiterated an Outperform rating and $420.00 price target on ULTA Beauty (NASDAQ: ULTA)

The analyst comments "ULTA’s stock debate is at a critical point, with generally negative sentiment amid intensifying competition versus an opportunity to embrace a more mature-growth trajectory, and manage the P&L better for a company that’s moving past its peak growth years and into a period where we think the company should focus more on generating higher returns from existing assets. While it will likely be tough for ULTA to convince bears at this analyst day that it has a bulletproof solution for the step change in competitive intensity in the space today, we think there’s a big opportunity to invite more value strategy investors into the story through reasonable growth targets, a more flexible cost structure, and potentially a shift in capital returns that could bring in a new audience for the stock (e.g., ULTA could potentially issue its first dividend)."

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

Shares of ULTA Beauty closed at $369.32 yesterday.

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