Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on Ulta Beauty (ULTA) to $390 from $360 and keeps a Neutral rating on the shares following Q3 results. There are still several critical weeks ahead that keep the firm cautiously optimistic for Q4, and it’s sounding like management isn’t changing their viewpoint on the medium-term targets laid out at their investor day, Piper told investors in a research note. The firm also said it would like to see more material improvement in the model to get more constructive.
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