Ulta Beauty price target lowered to $400 from $475 at Stifel

Stifel lowered the firm’s price target on Ulta Beauty (ULTA) to $400 from $475 and keeps a Hold rating on the shares. Ulta reported “solid” Q4 results with first-time guidance “better than feared,” says the analyst. The anticipated EPS decline of about 11% year-over-year at the midpoint reflects considerable investments in the business to improve competitiveness, while 0%-1% comp growth implies continued share loss compared to anticipated low-single-digit U.S. beauty category growth, the analyst tells investors.