In a report published on Monday, Jefferies analyst Randal J. Konik raised the price target on Ulta Beauty ULTA from $100 to $110 and maintained a Buy rating.
In the report, Jefferies stated, "We came away very positive from our meetings with ULTA mgmt during our HQ tour hosted in Illinois Friday. ULTA is in a very favorable position for the remainder of the year as it executes on its LT growth strategies and proceeds on track to expand the store base. At current levels we believe risk/reward is favorable and we are raising our price target to $110."
Ulta Beauty closed on Friday at $94.15.
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