Jefferies analyst Randal Konik raised his price target for Ulta Beauty to $180 from $165. The company reported another "strong" quarter, reflecting "robust" top-line momentum, and the analyst believes the momentum has continued into Q1, allowing Ulta Beauty to guide ahead of estimates. However, Konik believes incremental earnings per share upside will be limited in the near term by ongoing investments. He reiterates his Hold rating on the stock.
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