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Fly News Breaks for February 3, 2020
ULTA
Feb 3, 2020 | 05:12 EDT
Goldman Sachs analyst Kate McShane upgraded Ulta Beauty to Buy from Neutral with a price target of $307, up from $285. Based on her analysis of industry websites and manufacturer comments on earnings calls, the analyst believes Ulta's recent business slowdown is largely cyclical in nature. Further, McShane does not see the company's operating margins "unraveling" in the event that it sales growth slows further. Meanwhile Ulta's risk/reward is favorable at current valuation levels, McShane tells investors in a research note.
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