A strong rebound and better guidance have investors excited, but the risk-reward looks balanced from here.Ulta Beauty (ULTA -1.26%) is back in favor. After a volatile stretch last year, Ulta shares are up roughly 25% year to date as investors warm to improving trends across the specialty beauty retailer. The company operates about 1,500 U.S. stores plus e-commerce and salon services, aiming to be a one-stop destination for mass and prestige cosmetics, skin care, hair care, and fragrance.That rebound raises ...