Ulta Beauty price target raised to $525 from $475 at Stifel

Stifel raised the firm’s price target on Ulta Beauty to $525 from $475 and keeps a Hold rating on the shares after the company reported "strong" Q4 results and gave initial FY23 guidance that was "about in-line with consensus." The firm views the result as "impressive" and reflective of ongoing share gains and solid U.S. beauty category momentum, but views the shares as trading "modestly below fair value at aftermarket levels."