Ulta Beauty Target Boosted to $799 with 84 Space NK Stores Added
Canaccord Genuity raised Ulta Beauty’s price target to $799 from $674 as shares trade near $642, citing sustained sales growth, margin expansion and market share recovery. The firm highlighted the addition of 84 Space NK stores in the UK and Ireland and anticipates initial fiscal 2026 guidance on March 12.
1. Canaccord Boosts Price Target to $799
Canaccord Genuity raised its price target on Ulta Beauty to $799 from $674, noting shares trade near $642. Analysts cited sustained sales growth, margin expansion and market share recovery as the primary drivers behind the upgrade.
2. International Expansion via Space NK
Ulta Beauty’s acquisition of Space NK adds 84 stores across the UK and Ireland, marking the company’s first international footprint. This expansion supports the thesis of an enlarged addressable market and cross-border sales potential.
3. Earnings and Guidance Outlook
Ulta Beauty reports fourth-quarter earnings on March 12 and is expected to provide initial fiscal 2026 guidance. Analysts will focus on holiday performance metrics, promotional activity and share trends across mass and prestige beauty channels.