Wells Fargo analyst Ike Boruchow raised his price target for Ulta Beauty to $250 from $235 and maintained a Market Perform rating, saying Ulta "surprised" the Street by delivering a solid EPS beat despite a worsening macro backdrop. While Boruchow says Q4 numbers are coming down "a touch," the FY guidance was held, and given the stock was pricing in a cut, he expects shares to rally on the print.
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