Ulta Beauty Opens First Store in UAE, Plans Expansion to Dubai and Jeddah by 2026

Written by Emily J. Thompson, Senior Investment Analyst

ULTA-1.52%

Source: Benzinga

Updated: 4d ago

0mins

Source: Benzinga

UAE Store Opening: Ulta Beauty announced its first store opening at Mall of the Emirates on January 29, 2026, marking a significant entry into the Middle Eastern market, which is expected to attract a large local customer base.
Diverse Product Offering: The new store will feature a wide range of products including cosmetics, skincare, and fragrances from well-known brands such as Ulta Beauty Collection and Morphe, aiming to meet the diverse beauty needs of UAE consumers.
Launch Celebration Events: The opening day will feature special events with regional celebrities like Nadine Njeim, and activities will continue until February 7, including product demonstrations and showcases of local entrepreneurs, enhancing brand visibility.
Strategic Expansion Plans: Following the UAE store launch, Ulta Beauty plans to expand to Dubai Mall and Red Sea Mall in Jeddah in 2026, demonstrating its long-term commitment and growth potential in the Middle Eastern market.

ULTA

$651.3+Infinity%1D

Analyst Views on ULTA

Wall Street analysts forecast ULTA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ULTA is 647.83 USD with a low forecast of 450.00 USD and a high forecast of 780.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

22 Analyst Rating

15 Buy

6 Hold

1 Sell

Moderate Buy

Current: 661.340

Low

450.00

Averages

647.83

High

780.00

Current: 661.340

Low

450.00

Averages

647.83

High

780.00

Piper Sandler

Overweight

maintain

$615 -> $775

2026-01-27

New

Reason

Piper Sandler

Price Target

$615 -> $775

AI Analysis

2026-01-27

New

maintain

Overweight

Reason

Piper Sandler raised the firm's price target on Ulta Beauty to $775 from $615 and keeps an Overweight rating on the shares. With a solid Holiday and square-footage growth accelerating, the firm estimates Space NK sales will be up high 20's in 2026, which along with strength at core, should yield upside to sellside estimates. For Q4 2025, Piper models 5% comparable store sales, ahead of guidance for 2.5%-3.5%. The firm cites momentum in the business and the category for the price target increase.

TD Cowen

Buy

maintain

$725 -> $775

2026-01-21

Reason

TD Cowen

Price Target

$725 -> $775

2026-01-21

maintain

Buy

Reason

TD Cowen raised the firm's price target on Ulta Beauty to $775 from $725 and keeps a Buy rating on the shares. The firm adjusted targets in the beauty space as part of a Q4 preview. TD sees the most upside potential at Estee Lauder on improving China trends and sustained U.S. momentum. Beauty trends appear solid, which should drive revenue upside for all companies, the analyst tells investors in a research note.

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Raymond James

Outperform -> Strong Buy

upgrade

$605 -> $790

2026-01-21

Reason

Raymond James

Price Target

$605 -> $790

2026-01-21

upgrade

Outperform -> Strong Buy

Reason

Raymond James upgraded Ulta Beauty to Strong Buy from Outperform with a price target of $790, up from $605. The firm sees "outsized growth" in fiscal 2026 for the company after a period of heavy investments. Ulta will compound "steadily in a faster-growth category," the analyst tells investors in a research note. Raymond James says the company has multiple initiatives to drive faster growth.

Oppenheimer

Outperform

upgrade

$675 -> $750

2026-01-20

Reason

Oppenheimer

Price Target

$675 -> $750

2026-01-20

upgrade

Outperform

Reason

Oppenheimer raised the firm's price target on Ulta Beauty to $750 from $675 and keeps an Outperform rating on the shares. Based on its work, the firm is lifting its price target primarily reflecting the recent re-rating in discretionary names and its increased confidence in Ulta's FY26 newness pipeline with the upcoming Rare Beauty launch. In addition to newness, Oppenheimer continues to see a plethora of drivers to sustain top-line momentum from merchandising efforts to digital initiatives. The firm also remains very bullish on CEO Kecia Steelman's leadership and believes the fruits of her team's efforts are likely to continue to build. Ulta remains a top pick for Oppenheimer.

About ULTA

Ulta Beauty, Inc. is a specialty United States beauty retailer and the premier beauty destination for cosmetics, fragrance, skincare products, haircare products and salon services. The Company operates approximately 1,451 retail stores across 50 states and distributes products through its Website, which includes a collection of tips, tutorials, and social content. The Company’s business includes a differentiated assortment of approximately 29,000 beauty products across a variety of categories and price points, as well as a variety of beauty services, including salon services, in more than 1,400 stores predominantly located in convenient, high-traffic locations. It also offers digital experiences delivered through its Website, Ulta.com, and its mobile applications. The Company’s brands include Ulta Beauty Collection, about-face, Ariana Grande, CHANEL, FENTY BEAUTY by Rihanna, It Cosmetics, LolaVie, OUAI, PAT McGRATH LABS, Tula, and NYX Professional Makeup.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.