Ulta Beauty price target raised to $571 from $570 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Ulta Beauty to $571 from $570 and keeps a Buy rating on the shares. The analyst says the company’s Q1 results will help put to rest fears of potential pressure from incremental shrink and promotions. Ulta delivered solid same-store-sales growth that met the buy-side bar, saw shrink and promotions in line with plan, and increased the low-end of operating margin guidance, resulting in a unexpected full year earnings raise, the analyst tells investors in a research note.