Wall Street is divided over Ulta Beauty’s long-term outlook ahead of the retailer’s Analyst Day, held every three years. Next week’s event in Chicago, Illinois, US, is expected to address industry trends, online engagement and store operations amid mixed opinions about the company’s lackluster stock performance so far this year. Deutsche Bank slightly dropped its 12-month share price target by two dollars to US$424, but analysts from TD Cowen are more pessimistic. Last week, they lowered their stock price target by five dollars to US$390 amid concerns about tighter profit margins in the face of increasing competition. That followed a decision two weeks ago to downgrade their rating from a “buy” to a “hold.”
