Wells Fargo analyst Ike Boruchow raised the firm’s price target on Ulta Beauty (ULTA) to $370 from $350 and keeps an Underweight rating on the shares. The company kicked off holiday pre-announcements with better Q4 results, while surprisingly also announcing a CEO change, the analyst tells investors in a research note. The firm added that while Ulta is the first pre-upside top plan, it likely won’t be the last, as Wells expects more bullish updates in retail into next week.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULTA:
- Ulta Beauty (ULTA) CEO Dave Kimbell Announces Retirement
- Ulta Beauty Announces CEO Transition and Financial Outlook
- Ulta Beauty CEO Kimbell to retire, Steelman named successor
- Ulta Beauty price target raised to $394 from $390 at Piper Sandler
- Why Ulta Beauty (ULTA) Has More Upside Potential despite Post-Earnings Rally