Ulta Beauty price target raised to $525 from $490 at UBS

UBS raised the firm’s price target on Ulta Beauty (ULTA) to $525 from $490 and keeps a Buy rating on the shares. Ulta’s Q1 showed execution is improving and there is a positive EPS revision cycle unfolding ahead, the analyst tells investors in a research note. While shares are likely to respond well to the “solid” Q1 print, there’s more room to run, the firm says.