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Fly News Breaks for May 14, 2019
ULTA
May 14, 2019 | 07:57 EDT
Guggenheim analyst Steven Forbes raised his price target for Ulta Beauty to $375 from $350 and reiterates a Buy rating on the shares. After reviewing Euromonitor's 2019 Beauty and Personal Care report and market data, the analyst has increased confidence in Ulta's ability to meet or exceed consensus revenue estimates through 2020. Moderated market share expectations, especially within cosmetics, coupled with above-trend growth in skin care and hair care, should drive share price outperformance for Ulta Beauty in 2019, Forbes tells investors in a research note.
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