Piper Jaffray analyst Erinn Murphy raised her price target for Ulta Beauty to $325 and keeps an Overweight rating on the shares following last week's investor day. The analyst remains encouraged by Ulta's "superior assortment, guest-centric model, and dedication to investing in digital." The company is emerging as a premiere in-store partner for formerly direct-to-consumer only brands that are disrupting the beauty brand landscape, Murphy tells investors in a research note. She sees upside to Ulta's mid-to high-teens three-year earnings growth target.