10:25 AM EDT, 05/20/2025 (MT Newswires) -- Ulta Beauty ( ULTA ) remains poised to meet 2025 targets despite a "more difficult" landscape, Oppenheimer said Tuesday in a report.

The company on May 29 probably will report fiscal Q1 results in line with market expectations and reiterate full-year guidance, Oppenheimer said in an earnings preview.

"We continue to see solid in-store execution and a rational promotional backdrop," Oppenheimer said. "We are encouraged by the strategic direction" under Kecia Steelman, the new chief executive officer, the report said.

Execution of key digital priorities is a focus in the coming quarters, aiming at sustaining a competitive edge against Amazon.com (AMZN), Walmart (WMT)] and other rivals, the report said.

Oppenheimer boosted its price target on Ulta Beauty ( ULTA ) stock to $465 from $435 and maintained its outperform rating.

Shares of the company rose 2.4% in recent trading Tuesday.

Price: 420.09, Change: +10.00, Percent Change: +2.44