Ulta Beauty in Position to Return to Positive Comp Growth Next Year -- Market Talk

Dow Jones12-10

1543 ET - The market has been skeptical on Ulta Beauty's prospects, but the cosmetics retailer's third-quarter print shows its sales are improving and its margins stabilizing, UBS analysts say in a research note. The company maintained its previous guidance, which the analysts believe is conservative. Ulta still has levers to pull to return to positive comp growth even if the exogenous pressures don't abate in the next quarter or two, the analysts add. "Longer-term, we think Ulta can still provide line of sight to earnings per share of $26 to $28 a couple of years out." UBS raises its target price to $490 from $470 previously, driven by more visibility toward a return to positive comp growth next year. Shares fall 1.9% to $419.93. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

December 09, 2024 15:43 ET (20:43 GMT)

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Ulta still has levers to pull to return to positive comp growth even if the exogenous pressures don't abate in the next quarter or two, the analysts add. \"Longer-term, we think Ulta can still provide line of sight to earnings per share of $26 to $28 a couple of years out.\" UBS raises its target price to $490 from $470 previously, driven by more visibility toward a return to positive comp growth next year. Shares fall 1.9% to $419.93. 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