Ulta Beauty price target lowered to $560 from $640 at UBS

UBS analyst Michael Lasser lowered the firm’s price target on Ulta Beauty to $560 from $640 and keeps a Buy rating on the shares. Ulta’s shares have amongst the best risk-reward in the hardline, broadline and food retail sector, and the company has more visibility to sustained earnings power into next year than most other retailers, the analyst tells investors in a research note. The firm believes Ulta can sustain its double-digit EPS growth algorithm for the foreseeable future.

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