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Fly News Breaks for December 6, 2019
ULTA
Dec 6, 2019 | 06:15 EDT
Barclays analyst Adrienne Yih raised her price target for Ulta Beauty to $238 from $220 saying the company's Q3 results came in better than feared. However, while the analyst firmly believe sin the secular long-term positioning of specialty multi format retailers, such as Ulta, she sees potential risks over the next 12 months. Yih maintains an Equal Weight rating on the shares due concerns over decelerating comp momentum driven by weakness in the prestige cosmetics segment, deleverage on growth investments, and ongoing competitive pricing pressure.
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