TD Cowen Maintains Buy on Ulta Beauty, Lowers Price Target to $520
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Oliver Chen maintains a Buy rating on Ulta Beauty (ULTA) but lowers the price target from $580 to $520.

April 18, 2024 | 10:01 am
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NEUTRAL IMPACT
TD Cowen maintains a Buy rating on Ulta Beauty but lowers the price target from $580 to $520.
The adjustment in price target by a reputable analyst firm like TD Cowen could lead to mixed investor sentiment. While the maintenance of a Buy rating indicates continued confidence in the company's fundamentals, the reduction in price target might raise concerns about future growth prospects or market conditions affecting Ulta Beauty. However, the impact is considered neutral in the short term as the lowered price target is still significantly above the current trading price, suggesting an expected positive trajectory.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100