DA Davidson analyst Michael Baker raised the firm’s price target on Ulta Beauty (ULTA) to $550 from $485 and keeps a Buy rating on the shares. The firm’s beauty product overlap study that looks at Ulta’s “best sellers” comparing availability and price at Sephora, Amazon, Walmart and Target last published six months ago in January shows that Ulta seems to have more differentiation versus competitors than last seen, the analyst tells investors in a research note. Beauty remains a competitive space, both in terms of availability and price, but the worst appears to be in the past, the firm added.
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