Ulta Beauty shares are trading lower after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.
Portfolio Pulse from Benzinga Newsdesk
Ulta Beauty shares are trading lower after Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target from $494 to $404.
July 24, 2024 | 2:44 pm
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NEGATIVE IMPACT
Piper Sandler downgraded Ulta Beauty from Overweight to Neutral and reduced its price target from $494 to $404, causing the stock to trade lower.
The downgrade from Overweight to Neutral by Piper Sandler, along with a significant reduction in the price target, is likely to negatively impact investor sentiment and lead to a short-term decline in Ulta Beauty's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100