Jefferies Upgrades Ulta Beauty (ULTA) on Strong Demand and Margin Outlook

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Jefferies has upgraded Ulta Beauty (ULTA) to Buy from Hold, increasing its price target to $700, citing strong demand in the beauty industry and improved retail execution. UBS also reaffirmed its Buy rating with an $810 price target after a stakeholder event highlighted Ulta’s crucial role in the cosmetics ecosystem. Ulta Beauty operates over 1,445 retail stores in the U.S. offering a range of beauty products and salon services.

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