JP Morgan Maintains Overweight on Ulta Beauty, Raises Price Target to $535
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Christopher Horvers has maintained an Overweight rating on Ulta Beauty (NASDAQ: ULTA) and increased the price target from $505 to $535. This adjustment reflects a positive outlook on the company's stock.
December 01, 2023 | 7:30 pm
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POSITIVE IMPACT
Ulta Beauty's stock may see a positive short term impact due to JP Morgan's raised price target from $505 to $535, indicating a bullish outlook.
Price target increases by reputable analysts like those from JP Morgan often lead to a positive investor sentiment in the short term. The new target of $535 suggests that the analyst sees further upside potential in the stock, which could encourage investors to buy shares, potentially driving the price up.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100