JPMorgan lowered the firm’s price target on Ulta Beauty (ULTA) to $475 from $480 and keeps an Overweight rating on the shares. The company reported better than expected Q4 comps and earnings, the analyst tells investors in a research note. The firm believes Ulta is “setting up as a port in the retail storm” given its stable-to-improving momentum into 2025 with flattish quarter-to-date trends. JPMorgan expects investors to buy the guidance cut with multiple expansion over the year as the company continues to make traction on market share performance.
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