Ulta Beauty price target raised to $750 from $675 at Oppenheimer

Oppenheimer raised the firm’s price target on Ulta Beauty (ULTA) to $750 from $675 and keeps an Outperform rating on the shares. Based on its work, the firm is lifting its price target primarily reflecting the recent re-rating in discretionary names and its increased confidence in Ulta’s FY26 newness pipeline with the upcoming Rare Beauty launch. In addition to newness, Oppenheimer continues to see a plethora of drivers to sustain top-line momentum from merchandising efforts to digital initiatives. The fir ...