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Fly News Breaks for December 7, 2018
ULTA
Dec 7, 2018 | 09:14 EDT
Cowen analyst Oliver Chen views any weakness in Ulta Beauty following its Q3 results as a long-term buying opportunity. He noted investors may be disappointed in the gross margins erosion, but he believes it was due to higher unplanned clearance activity. He added that the company's guidance was affirmed and the strong fundamentals remain intact. Chen reiterated his Outperform rating and $340 price target on Ulta Beauty shares.
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