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Fly News Breaks for May 23, 2016
ULTA
May 23, 2016 | 07:44 EDT
Oppenheimer analyst Rupesh Parikh raised his price target for Ulta Beauty to $235 from $225 as he continues to believe Wall Street's forecasts are conservative and sees shares benefiting from money flow from other challenged retailers. Parikh expects another "solid" quarter for Ulta Beauty and believes the company remains on track to achieve more of a "bullish scenario," adding that he would be buyer on any potential pullback should shares succumb to profit taking. The analyst reiterates an Outperform rating on the stock.
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