Ulta Beauty (ULTA) stock closed down nearly 3% 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.
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In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.
The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron (APRN) .