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Fly News Breaks for October 3, 2019
ULTA
Oct 3, 2019 | 07:10 EDT
Goldman Sachs analyst Kate McShane initiated Ulta Beauty with a Neutral rating and $276 price target. While Ulta is clearly still gaining beauty industry market share, its share gains appear to have slowed recently, said McShane. Slowing revenue momentum could lead to operating dollar growth turning negative in Q3, contends McShane, who thinks slower top line and operating income growth could persist into 2020 amid "anemic" industry growth.
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