Ulta Beauty price target raised to $395 from $385 at Stifel

Stifel raised the firm’s price target on Ulta Beauty to $395 from $385 and keeps a Hold rating on the shares. The firm sees “modestly more upside than downside” for shares at current levels, but views U.S. beauty category growth as key to more meaningful outperformance. The firm, which updated its FY24-FY26 estimates following the company’s investor day, says the company’s preliminary FY25 expectations for approximately flat year-over-year EPS growth largely reflects positive, but below 3%-4% long-term, comp growth guidance.