Before I state my opinion let me say that I am not an expert, or even play one on TV on which bulges should be repaired and which ones should be left alone.
But as a rule I feel that a bulge in the first two thirds of the barrel are bad news. Have a bulge repair fail in the last ten inches of the barrel and no great harm can come to the shooter. Have it occur within a few inches for your face or hand and you might not be so lucky. If your load is 10,000 psi at the chamber it may be 6-7,000 at the bulge and only 2-3,000 near the choke. Easier to deal with thin or weak metal near the choke area than in the middle.
Stretched metal is almost impossible to compress back into the proper place. Most bulges, I think get more filing to make the flush than is smart. Very minor bulges might be repairable but why risk it?
The only sure way to know is to send it to a very good barrel man. Mike O would be my choice. If he thinks it will not be safe he will tell you so in a fast second. His work and prices are super and he can get to the job faster than anyone else I know.
