Wells Fargo Maintains Underweight on Ulta Beauty, Raises Price Target to $400
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Ike Boruchow has maintained an Underweight rating on Ulta Beauty (NASDAQ: ULTA) but increased the price target from $375 to $400.

December 01, 2023 | 1:20 pm
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Wells Fargo maintains an Underweight rating on Ulta Beauty but raises the price target from $375 to $400.
While the Underweight rating suggests a bearish outlook on the stock, the increase in price target could be seen as a positive adjustment to the company's valuation. This mixed signal may lead to a neutral short-term impact on the stock price as the market digests both the reaffirmed Underweight rating and the higher price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100