Ulta Beauty price target raised to $520 from $500 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Ulta Beauty to $520 from $500 but keeps a Hold rating on the shares. The company posted its 8th consecutive quarter of double-digit percentage comparable sales growth, along with operating margin expansion, the analyst tells investors in a research note. The firm adds that Ulta’s guidance was also encouraging given its long history of "underpromising and overdelivering", though Loop Capital believes that the upside and downside risks are "fairly balanced at current levels".