Ulta Beauty price target raised to $520 from $460 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Ulta Beauty (ULTA) to $520 from $460 and keeps an Outperform rating on the shares. Despite the challenging consumer environment, the company reported a “strong start” to the fiscal year, the analyst tells investors. The firm sees Ulta’s store portfolio, infrastructure capabilities, loyalty program, and brand partnerships as competitive advantages.