Canaccord analyst Susan Anderson raised the firm’s price target on Ulta Beauty (ULTA) to $600 from $542 and keeps a Buy rating on the shares. The firm believes the health and wellness category should remain resilient in the second half 2025. The target increase reflects higher multiple valuation. The largest U.S. beauty specialty retailer continues to execute its strategy to make it the best place to shop for all beauty by investing in their stores and adding new brands. Ulta is also moving away from the pressure imposed by Sephora’s 1,000+ door openings.
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