Raymond James analyst Olivia Tong raised the firm’s price target on Ulta Beauty (ULTA) to $500 from $450 and keeps an Outperform rating on the shares following the “strong” Q1 beat. Accelerating sales growth and a solid beat despite a choppy macro backdrop should drive valuation higher, the analyst tells investors in a research note.
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Read More on ULTA:
- Ulta Beauty price target raised to $510 from $465 at Oppenheimer
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- Ulta Beauty: Strong Q1 Performance Amid Cautious Outlook, Hold Rating Due to Fair Valuation
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