Ulta Beauty price target raised to $350 from $300 at Wells Fargo

Wells Fargo raised the firm’s price target on Ulta Beauty (ULTA) to $350 from $300 and keeps an Underweight rating on the shares. Ulta’s Q3 results were a relief following several tough prints, with comps back to positive, a raised FY plan, the analyst tells investors in a research note. The firm still sees structural concerns that will take more time to prove wrong.