Raymond James Maintains Strong Buy on Ulta Beauty, Lowers Price Target to $500
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Olivia Tong has maintained a 'Strong Buy' rating on Ulta Beauty (NASDAQ:ULTA), but lowered the price target from $550 to $500.

October 23, 2023 | 12:56 pm
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Despite a lowered price target, Ulta Beauty maintains a 'Strong Buy' rating from Raymond James, indicating continued confidence in the company's performance.
The lowered price target might initially cause some investor concern, potentially leading to short-term price volatility. However, the maintained 'Strong Buy' rating indicates that the analyst still has high confidence in Ulta Beauty's performance, which could balance out any negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100