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Ulta Beauty price target lowered to $390 from $395 at TD Cowen

Ulta Beauty price target lowered to $390 from $395 at TD Cowen

TD Cowen lowered the firm’s price target on Ulta Beauty (ULTA) to $390 from $395 and keeps a Hold rating on the shares. The firm noted bears highlight Sephora/Amazon (AMZN) competition, promo intensity, and potentially lowerlong-term targets at the Investor Day while bulls appreciate valuation and structural advantages including loyalty program and real estate expertise.

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