ULTA - selling is overdone
Posted: Apr 04, 2024
- Ulta Beauty stock (ULTA) hit a buy zone at $440 - Purchase of 50 Jan 25 options at $480 strike price - Market reacted negatively to CEO's soft guidance preview - Author believes the 15% drop in stock price is an overreaction - Reasons for buying Ulta Beauty stock include best-in-class loyalty program, unique positioning in the beauty industry, and strong company execution - Long-term fundamentals of Ulta Beauty remain intact - Panel suggests aggressively buying Ulta Beauty under $450, expecting a snap back in stock price and possible buy recommendations from analysts.
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