JPMorgan raised the firm’s price target on Ulta Beauty (ULTA) to $647 from $606 and keeps an Overweight rating on the shares. The company’s Q3 report “continued to raise the bull case” as its share gains across categories, price points and channels drove sales upside, the analyst tells investors in a research note. JPMorgan believes Ulta saying its 2026 operating margin will not be lower than 2025 levels, which was the bear case into the print, reassures its 2026 expense growth commentary.
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Read More on ULTA:
- Ulta Beauty price target raised to $674 from $653 at Canaccord
- Ulta Beauty price target raised to $615 from $590 at Piper Sandler
- Ulta Beauty price target raised to $647 from $617 at Barclays
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