Ulta Beauty price target raised to $615 from $600 at Raymond James

Raymond James analyst Olivia Tong raised the firm’s price target on Ulta Beauty to $615 from $600 and keeps a Strong Buy rating on the shares. At investor meetings with CEO Dave Kimbell and CFO Scott Settersten, management reiterated their long-term targets, and while they did not address performance since the end of Q1, Raymond James came away with increased confidence that Ulta can continue to grow ahead of its targeted ranges, the analyst tells investors in a research note.