Is Ulta Beauty Stock Going to $485? 1 Wall Street Analyst Thinks So.
Ulta Beauty (NASDAQ: ULTA) has recently gotten much attention because of the large stake unexpectedly purchased by Warren Buffett's Berkshire Hathaway. With a higher profile, the cosmetics retailer is also winning attention from a clutch of analysts, with one of those pundits recently modifying his price target on the shares.
Baird's Mark Altschwager recently cut said price target to $485 per share from his preceding $525. That doesn't make him an Ulta bear, however, as he thinks the retailer still has plenty of potential upside even at the reduced level -- it's 28% higher than the most recent closing share price, so he has maintained his overweight (i.e., buy) recommendation.
Source Fool.com
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