Beauty & the Beats: Ulta Set to Outperform Consensus, Analyst Paints a Pretty Picture
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory analyst Dana Telsey reiterated an Outperform rating on Ulta Beauty Inc (NASDAQ: ULTA) with a price target of $600. The company is expected to report 1Q23 earnings on May 25, with a sales growth of 12.8% Y/Y to $2.646 billion. ULTA plans to open 25-30 net new stores, reflecting project delays and supply chain disruptions.
May 22, 2023 | 6:55 pm
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Ulta Beauty receives an Outperform rating from Telsey Advisory analyst Dana Telsey with a $600 price target. The company is expected to report 1Q23 earnings on May 25, with a sales growth of 12.8% Y/Y to $2.646 billion.
The Outperform rating and higher price target from the analyst indicate a positive outlook for Ulta Beauty's stock. The expected sales growth of 12.8% Y/Y and the company's plans to open new stores, despite project delays and supply chain disruptions, show resilience and potential for growth in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100