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Ulta Beauty, Inc. (NASDAQ:ULTA) shares experienced a notable decline on Wednesday, driven by a downgrade from Piper Sandler and lowered price targets from multiple analysts.
Why It's Moving: Piper Sandler analyst Korinne Wolfmeyer downgraded Ulta Beauty from Overweight to Neutral and reduced the price target from $494 to $404. Additionally, Wells Fargo analyst Ike Boruchow maintained an Underweight rating on Ulta Beauty and lowered the price target from $350 to $325.
Earnings and Guidance Analysis:
ULTA Price Action: Ulta Beauty shares fell 5.3% to $368.56 according to Benzinga Pro.
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Posted In: ULTA