Ulta Beauty price target raised to $472 from $450 at JPMorgan

JPMorgan raised the firm’s price target on Ulta Beauty (ULTA) to $472 from $450 and keeps an Overweight rating on the shares. The overall message from Ulta’s analyst day “hit the mark” from a long-term algorithm expectation perspective “with a glass half full/empty outcome on 2025 commentary,” the analyst tells investors in a research note. The firm says the company’s effort to get Street consensus lower, and a stabilizing sales trends excluding some hurricane volatility, makes the stock setup “much more attractive.”