DA Davidson raised the firm’s price target on Ulta Beauty (ULTA) to $625 from $585 and keeps a Buy rating on the shares after its Q2 earnings beat and guidance raise. The company is still facing strong competition from online marketplaces like Amazon (AMZN) and Walmart (WMT), but the evidence seems to support the firm’s view that Sephora/Kohl’s was the big issue and now that is in the past, the analyst tells investors in a research note. The firm further cites improved industry trends seen in most of Ulta’s competitors as well as acceleration in the newness of products.
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