Cowen Reiterates Outperform as Ulta Salon (ULTA) Updates Guidance

October 13, 2016 4:44 PM EDT
Get Alerts ULTA Hot Sheet
Price: $253.39 -1.56%

Rating Summary:
    11 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Cowen reiterated an Outperform rating and $286.00 price target on ULTA Salon (NASDAQ: ULTA) as the company updates guidance. ULTA is now expecting comps to be in the range of +14% to 15% vs. their prior guide of +11% to +13%, compared to the Street at +12.7%. EPS is now expected to be in the range of $1.35 to $1.38 vs. their prior guide of $1.25 to $1.30 and ahead the Street at $1.30.

Analyst Oliver Chen commented, "EPS growth of 20%+ due to continued brand awareness, mkt share gains, & strides in real estate. Store tgt raised to 1,400-1,700, 3Q & FY16 guide raised, confirmed L-T 20% EPS growth for FY17-19, & op margin expected to hit mid-teens by FY19. Comps should grow on personalization & loyalty, new brand progress, & inventory turn improvement. Market Cap of $16bn highlights expensive nature of stock."

For an analyst ratings summary and ratings history on ULTA Salon click here. For more ratings news on ULTA Salon click here.

Shares of ULTA Salon closed at $238.97 yesterday.



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