Ulta Beauty Inc
ULTA: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$894.00 | Jqbwxbq | Ycrnzghj |
Ulta Beauty Earnings: Looking Good Heading Into the Holiday Season; Shares Expensive
Overcoming a challenging retail environment, Ulta Beauty basically maintained its 2023 guidance after reporting third-quarter results that beat our estimates. Investors cheered the report and outlook, sending its shares up 12% during postmarket trading on Nov. 30. We expect to lift our $378 fair value estimate by a low-single-digit percentage given the retailer’s momentum, but would suggest that investors wait for a more attractive entry point.