Ulta Beauty price target raised to $445 from $410 at Barclays

Barclays raised the firm’s price target on Ulta Beauty (ULTA) to $445 from $410 and keeps an Equal Weight rating on the shares. The company’s preliminary Q3 results were ahead of expectations, the analyst tells investors in a research note. The firm also views the new CEO announcement favorably, saying Kecia Steelman has more than 10 years of experience at Ulta in all aspects of operations, real estate, growth, and strategy. However, it remains on the sidelines, noting the beauty backdrop remains “competitively challenging in the near-term.”