Oppenheimer analyst Rupesh Parikh continues to believe Ulta Beauty is well positioned for the upcoming holiday season, after meeting with the company's management. As many other brick-&-mortar retailers continue to struggle, the analyst says Ulta Beauty remains on the offensive through in-store investments in boutiques and fixtures, increased spending on marketing, and benefits from growing partnerships with leading suppliers. He views the recent pullback as an attractive entry point, and reiterates an Outperform rating and $300 price target on the shares.

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