JPMorgan raised the firm’s price target on Ulta Beauty (ULTA) to $606 from $600 and keeps an Overweight rating on the shares ahead of the Q3 report on December 4. Based on its channel and data work, the firm upped its Q3 and Q4 comp forecasts to 5.5% and 2.5%, respectively. JPMorgan believes Ulta optimized promotions during the quarter. It expects upward estimate revisions post the print.
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