UBS analyst Michael Lasser raised the firm’s price target on Ulta Beauty (ULTA) to $640 from $525 and keeps a Buy rating on the shares. UBS expects solid top-line momentum coupled with an outlook that leaves the door open for further beats/raises ahead, the analyst tells investors in a research note. The firm believes Ulta’s strategic investments to reinvigorate its core U.S. store business are bearing fruit.
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