UBS analyst Michael Lasser raised the firm’s price target on Ulta Beauty (ULTA) to $490 from $470 and keeps a Buy rating on the shares. The company’s Q3 results showed that its sales are improving and that its margins are stabilizing, and Ulta maintained its Q4 guidance, which UBS thinks is conservative, the analyst tells investors in a research note. As a result, UBS thinks the market will view 2025 EPS estimates as achievable, and thinks Ulta still has levers to pull to return to positive comp growth even if the external pressures don’t abate in the next quarter or two.
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