“Ulta Beauty remains a strong, durable business in a dynamic and attractive category,” said Morgan Stanley analyst Simeon Gutman in upgrading the stock to Overweight from Equal Weight.

Simple ideas can produce market-beating stocks too, including cosmetics retailer Ulta Beauty (NASDAQ: ULTA). Ulta Beauty is a U.S. cosmetics retailer with 1,437 stores as of the end of its fiscal third quarter of 2024.

Insights from analysts' 12-month price targets are revealed, presenting an average target of $442.68, a high estimate of $538.00, and a low estimate of $330.00. Surpassing the previous average price target of $415.05, the current average has increased by 6.66%.

Fintel reports that on January 21, 2025, Morgan Stanley upgraded their outlook for Ulta Beauty (NasdaqGS:ULTA) from Equal-Weight to Overweight. Analyst Price Forecast Suggests 11.13% Upside As of December 23,