Ulta Beauty price target raised to $570 from $525 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on Ulta Beauty to $570 from $525 and keeps an Overweight rating on the shares. The company reported a "solid" Q3 report that beat expectations across the board and raised its fiscal 2022 outlook, Wolfmeyer tells investors in a research note. The "beat and raise story" is ongoing at Ulta, and the company is "proving itself as not only one of the more resilient names in beauty, but a name with strong momentum that’s likely to persist," writes the analyst.