Ulta Beauty price target raised to $572 from $571 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Ulta Beauty to $572 from $571 and keeps a Buy rating on the shares. While macro data proved to be generally stable to improving in Q3, the consumer backdrop remains volatile, the analyst tells investors in a research note. The firm says consumer trade-down is still apparent. It continues to favor retailers that have solid traffic growth and/or are defensively positioned until it sees clearer signs of how consumer demand will unfold in the coming months.