Barclays upgraded Ulta Beauty (ULTA) to Overweight from Equal Weight with a price target of $589, up from $518. The firm believes the company’s return positive comps and margin expansion is sustainable. In addition, Ulta is seeing promotional improvement and below-average tariff headwinds, the analyst tells investors in a research note. Barclays views the company’s fiscal 2025 guidance as conservative with “beat and raise potential.”
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