Ulta Beauty price target lowered to $500 from $600 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Ulta Beauty to $500 from $600 and keeps an Outperform rating on the shares. A few weeks after the release of its last earnings, which were “better than expected” across the board, management called out a greater, earlier slowdown than expected, which limited visibility, the analyst tells investors. The firm lowered its price target due to near-term pressure but continues to see Ulta operating from a position of strength.