DA Davidson raised the firm’s price target on Ulta Beauty to $530 from $495 and keeps a Buy rating on the shares after its Q3 earnings beat. Bears had been winning with the stock down 9.2% versus the XRT up 6.9%, but the company’s Q3 results, earnings call and call back did a lot to ease investor concerns on a number of topics, which should lead to a relief rally for the shares, the analyst tells investors in a research note.
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