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Fly News Breaks for March 16, 2018
ULTA
Mar 16, 2018 | 05:10 EDT
KeyBanc analyst Jason Gere lowered his price target for Ulta Beauty to $235 after the company's Q4 comps and earnings came in a "bit below expectations." Comps have decelerated, but are still mid-to-high single digit and are now at a sustainable level as Ulta is "leaning into reinvestments," Gere tells investors in a post-earnings research note. He thinks the valuation is not reflective of the company's fundamental performance and sees limited downside at current share levels. The analyst keeps an Overweight rating on Ulta.
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