Telsey Advisory Group Maintains Outperform Rating for Ulta Beauty, Raises Price Target to $500

There are three reasons why Telsey is optimistic to Ulta Beauty

Dec 06, 2024

Summary

Positive Q3 Results and Optimistic Outlook Drive New Price Target; Strong Loyalty Program and Market Leadership Highlighted

Today, Telsey Advisory Group announced that they maintain their Outperform recommendation on Ulta Beauty (ULTA, Financial). They also have raised the price target to $500 from previously only $450. The positive rating comes after Ulta Beauty reported it's third-quarter financial results with earnings of $5.14 per share and revenue at $2.53 billion, both beyond analysts' expectations.

Telsey said that they are optimistic to Ulta Beauty's prospect in the future for its strong loyalty program, leadership in specialty retail segment, and its expanded store presence.

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I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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