金吾财讯 | B.Riley发报指出，该行正在更新ULTA的信息，因为之前论点的关键支柱已经削弱，特别是对2025年正向比较拐点的怀疑以及由此带来的运营利润压力。更新的第四季度指引要求“适度正面的”同店销售，如果实现，将标志着连续两个季度的正面表现，这表明到2025年持续的同店销售转折的可实现性更大。此外，第三季度和第四季度的业绩超出预期，增加了在分析师日提供的2025年初期评论中嵌入缓冲的可能性例如，如果“至少”11%的营业利润率实际上接近12%，这可能会在至少2025年3月13日的第四季度每股收益(EPS)中维持向上的盈利修正势头。
该行表示，尽管仍将竞争视作主要的长期威胁，但近期盈利趋势的积极变化（即使是以较低的基础为起点）可能足以抵消这种担忧情绪。该行将评级上调至中性，并将目标价格由330美元提高至430美元。
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