Why Shares of Ulta Beauty Are Rising Today

Shares of Ulta Beauty (NASDAQ: ULTA) were moving up on Friday after a key analyst upgraded the stock and said the company looks likely to rebound well from the coronavirus pandemic. 

As of 12:00 p.m. EDT, Ulta Beauty's shares were trading up about 8.7% from Thursday's closing price.

In a note on Friday morning, Citigroup analyst Kelly Crago upgraded Ulta Beauty to buy, from neutral, with a price target of $205 per share. Crago wrote that she believes Ulta's long-term earnings growth story is intact despite the near-term impact of the pandemic and that its business is likely to "rebound strongly" as the outbreak fades. 

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Source Fool.com