Ulta Beauty price target raised by $10 at Loop Capital, here’s why

Loop Capital raised the firm’s price target on Ulta Beauty to $530 from $520 and keeps a Buy rating on the shares. After several pricing studies in which prestige beauty product prices were perfectly in line, Ulta’s prices are now slightly less expensive than its competitors on average, the analyst tells investors in a research note. The firm says prestige beauty product prices also remain largely intact following multiple price increases over the past couple of years. While Ulta’s competitors are currently offering more “free gift with purchase” offers, the company currently has a compelling bonus points promotion for its customer loyalty program members running through Christmas Eve, contends Loop.