Ulta Beauty price target raised to $610 from $587 at Jefferies

Jefferies raised the firm’s price target on Ulta Beauty to $610 from $587 and keeps a Buy rating on the shares. Q4 results beat consensus but the 2.5% comp figure “missed the buy-side bogey” that was closer to about 3.5%, the analyst tells investors. Prestige has underperformed, but the firm believes the addition of new brands will result in share gains and the company’s announcement on the expansion into Mexico with a joint partner was a positive, the analyst added in an earnings recap note.