There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Carvana Co (CVNA) and Ulta Beauty Inc (ULTA) with bullish sentiments.
Carvana Co (CVNA)
In a report released today, Mark May from Citigroup initiated coverage with a Buy rating on Carvana Co and a price target of $55. The company’s shares opened today at $38.79.
According to TipRanks.com, May is a 5-star analyst with an average return of 11.2% and a 63.2% success rate. May covers the Technology sector, focusing on stocks such as Upwork Inc, Criteo SA, and Facebook.
Currently, the analyst consensus on Carvana Co is a Moderate Buy with an average price target of $64.75, which is a 66.9% upside from current levels. In a report issued on November 30, Wells Fargo also maintained a Buy rating on the stock with a $72 price target.
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Ulta Beauty Inc (ULTA)
In a report released today, Ike Boruchow from Wells Fargo maintained a Buy rating on Ulta Beauty Inc, with a price target of $328. The company’s shares opened today at $271.45.
According to TipRanks.com, Boruchow is a 2-star analyst with an average return of -0.4% and a 39.5% success rate. Boruchow covers the Services sector, focusing on stocks such as Ralph Lauren Corp, Burlington Stores, and Urban Outfitters.
Currently, the analyst consensus on Ulta Beauty Inc is a Moderate Buy with an average price target of $318.19, representing a 17.2% upside. In a report issued on November 26, Nomura also maintained a Buy rating on the stock with a $305 price target.
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