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These Analysts Are Firing Up the Bull Case for Ulta

Ulta Beauty (ULTA) stock is trading down over 2% mid-morning Monday, but Oppenheimer's Rupesh Parikh and Erica Eiler and Wells Fargo's Ike Boruchow made bull cases for the beauty retailer.

Oppenheimer said they're optimistic about Ulta's recent collaboration with MAC, writing that the addition of MAC specialty products at some locations helps Ulta increase its market share while cementing its dominance in beauty retail. Parikh and Eiler gave Ulta an "outperform" rating with a price target of $330.

Wells Fargo said a recent debate between Ulta bears and bulls showed bulls with a stronger case. Those optimistic about Ulta stock said its recent price dip is "fear-driven" and the market is "overthinking" concerns. Bears "patiently waiting" for headwinds to impact stock kept Wells Fargo from changing its "market perform" rating for Ulta stock, though.

Ulta stock traded up last week on news Goldman Sachs added the company to its Conviction Buy List.

What's Hot on TheStreet

Amazon wants to upend every business, or so it seems: New day, a new business Amazon (AMZN) wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.

In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning...