Canaccord previewed the Ulta Beauty Q3 report and expects continued healthy performance but expects moderating growth. The firm said promos during the Black Friday weekend and this Cyber Monday were flat suggesting healthy consumer demand at Ulta. They believe Ulta is positioned well into the 3Q report and that beauty demand should remain healthy throughout the rest of the year. Canaccord reiterated its Buy rating and $606 price target on Ulta Beauty shares.
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