Barclays analyst Adrienne Yih raised the firm’s price target on Ulta Beauty (ULTA) to $410 from $335 and keeps an Equal Weight rating on the shares. The company beat on sales and earnings in Q3 while raising its fiscal 2024 guidance for all metrics attributable to the Q3 beat, the analyst tells investors in a research note. However, the firm says the Q4 is set up to be challenging as the company expects comps to be down.
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Read More on ULTA:
- Ulta Beauty Reports Modest Growth Amid Expansion
- Closing Bell Movers: Lululemon jumps 9% after beat and raise
- ULTA Earnings: Shares Jump after Smashing EPS Estimates
- Ulta Beauty reports Q3 EPS $5.14, consensus $4.52
- Ulta Beauty raises FY24 EPS view to $23.20-$23.75 from $22.60-$23.50
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