Analysts Raise Ulta Beauty Targets to $800 and $775 Citing Strong Holiday Momentum
JPMorgan raised Ulta Beauty’s price target to $800 from $647, retained an Overweight rating and removed the stock from its Analyst Focus List. Piper Sandler boosted its target to $775 from $615, forecasts 5% fourth-quarter comparable sales versus 2.5%–3.5% guidance and projects Space NK sales up high-20% in 2026.
1. JPMorgan Raises Price Target to $800
JPMorgan lifted Ulta Beauty’s price target to $800 from $647 and maintained an Overweight rating. The firm removed the stock from its Analyst Focus List after the recent rally and flagged a conservative 2026 outlook weighted toward the second half.
2. Piper Sandler Boosts Forecast to $775
Piper Sandler increased its Ulta Beauty target to $775 from $615, highlighting a strong holiday season and accelerating square-footage expansion. It models fourth-quarter comparable store sales growth of about 5% versus company guidance of 2.5%–3.5% and forecasts Space NK sales rising in the high-20% range in 2026.
3. Drivers of Expansion and Outlook
Both upgrades reflect confidence in Ulta’s differentiated model combining mass and prestige brands, traffic gains, premium partnerships and ongoing store openings. Analysts expect these factors to fuel market share gains, operating leverage and sustained long-term growth.