ULTA Salon PT Lowered to $525 at Baird
Investing.com | Author Vlad Schepkov
Editor Ismeta Mujdragic
Published May 09, 2024 09:26AM ET
Updated May 29, 2024 06:54AM ET
Baird analysts lowered the price target on ULTA Salon (ULTA) to $525.00 (from $625.00) while maintaining an Outperform rating.
The analysts commented: "We’re anticipating FQ1 results ~in line with consensus as deceleration in checks (and higher promos) through the quarter appear consistent with consensus figures (and management's commentary at an April investor conference). Choppy demand indicators and more aggressive promotions are understandably weighing on sentiment near term but at ~10x EBITDA, ~14x P/E, a lot of bad news looks priced in. We would expect shares to react favorably to an in-line report/guide and reassuring sales/margin commentary from management (comparisons ease from here but consumer spending outlook remains challenging)."
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