Ulta Beauty price target raised to $520 from $460 at Evercore ISI

Evercore ISI raised the firm’s price target on Ulta Beauty to $520 from $460 and keeps an Outperform rating on the shares, saying that the company delivered “a solid 3Q against a very fearful stock backdrop.” The Q3 report was “a good reminder” of the resilience of the beauty category and Ulta’s strong leadership position in the category, says the analyst, who argues that the company reduced any fears about its ability to continue to guide to its longer-term algorithm.