Ulta Beauty price target raised to $450 from $400 at Wells Fargo

Wells Fargo raised the firm’s price target on Ulta Beauty to $450 from $400 and keeps an Underweight rating on the shares. Ulta’s results were “OK,” while their outlook was less compelling, with a notably weak start in Q1 and a plan that is second half-weighted, the analyst tells investors in a research note.