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Ulta Beauty: More Fuel For The Bulls

Ulta Beauty (ULTA) is lower Monday, despite a pair of analyst notes that argued the bull case for the stock.

Illustration: Pixabay

Oppenheimer's Rupesh Parikh and Erica Eiler reiterated an Outperform rating and $330 price target after visiting a MAC boutique at ULTA in Apple Valley, Minnesota, one of the first locations to receive the MAC product. They write that they're upbeat about the potential for the collaboration, and that adding MAC to its lineup further cements Ulta's dominance in the beauty sphere, while also helping it grab market share.

More from their note:

OPCO Prior Quantification of MAC Launch at ULTA. In mid-May we published our...