Piper Sandler Reiterates Neutral Rating on ULTA Beauty (ULTA)

Piper Sandler analyst Korinne Wolfmeyer reiterated a Neutral rating and $365.00 price target on ULTA Beauty (NASDAQ: ULTA).

The analyst commented, "Ahead of ULTA's investor day next week, we suggest investors remain on the sidelines, with recent valuation contraction limiting further degradation but lack of upside drivers also limiting any meaningful expansion, in our view. Additionally, results from our Fall Teen Survey earlier this week suggest pressures could be intensifying, and though we see some areas of alleviation for ULTA, we believe we need to get through another few quarters to have greater confidence in the proper P&L metrics and valuation levels going forward."

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 $358.96 yesterday.

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