Why Evercore just cut its price target on this Warren Buffett-backed stock
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August 27, 2024 4:17 PM EDT
Deutsche Bank analyst Krisztina Katai lowered the price target on ULTA Salon (NASDAQ: ULTA) to $448.00 (from $552.00) while maintaining a Buy rating.
The analyst comments "We see favorable risk/reward at ULTA at current levels. While we are lowering our 2Q and 2H SSS and EPS forecasts ahead... More
August 27, 2024 6:32 AM EDT
Canaccord Genuity analyst Susan Anderson lowered the price target on ULTA Salon (NASDAQ: ULTA) to $500.00 (from $522.00) while maintaining a Buy rating.
The analyst comments "This week, Ulta Beauty (ULTA | Buy $500 PT) is scheduled to report 2Q (July-end) results on Thursday 8/30 after the close. Ahead of earnings, we lower our estimates to account for continued normalization in US beauty demand. We also continue to see promotions trending higher on a sequential basis despite healthy demand, which we believe is due to slowing beauty demand and increased competition between Ulta and Sephora. Despite sequentially... More
August 26, 2024 9:25 AM EDT
Evercore ISI analyst Michael Binetti lowered the price target on ULTA Salon (NASDAQ: ULTA) to $430.00 (from $500.00) while maintaining a Outperform rating.
The analyst comments "Slowing Category + Market Share Pressures Make the NearTerm Path TougherEven at Todays Low Valuation: Were removing ULTA from our Top 5 Outperformers list ahead of 2Q24 earnings given continued category weakness, tough competitive dynamics, and the recent bounce in the stock (up ~+19% over past two weeks). We lower our 2Q EPS to $5.43 from $5.60, and lower FY24 by -4% to $24.50 from $26.00 (Street:... More
