Ulta Beauty Stock Upgraded After Worst Week in 4 Years
ULTAUlta Beauty(ULTA) Schaeffers Research·2024-04-08 22:47

Fresh off the stock's worst week since March 2020, one analyst is betting on a bounce back from Ulta Beauty Inc (NASDAQ:ULTA). This morning, Loop Capital upgraded the cosmetics retailer to "buy" from "hold," calling last week's selloff 'overdone.' The firm also set a price target of 540,whichrepresentsanover20540, which represents an over 20% premium to current levels. At last look, ULTA was up 2.1% to trade at 454.18. The shares fell 15.3% on Wednesday, April 3, after CEO David Kimbell warned of slowing demand. Since the start of ...