Jefferies Maintains a 'Hold' on ULTA Salon (ULTA); Ongoing Strength
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Price: $92.12 -1.18%
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ULTA Now!
Jefferies maintains a 'Hold' on ULTA Salon (NASDAQ: ULTA) price target of $92.00.
Analyst, Randal J. Konik, said, "ULTA posted strong quarterly results again, slightly above its recently raised 1Q outlook. This company continues to do a great job driving topline growth through continual newness and effective marketing, as well as tight expense control all while growing square feet over 20%. While the fundamentals remain solid, we believe this is adequately reflected in current valuation."
"We admit, we were wrong in not buying into this name at lower valuations. However the stock is now trading at nearly 35x FY'13 EPS and 15x EV/ EBITDA, and we find it hard to recommend a Buy given that upside is already baked in. As such we look for a more attractive entry point for this unique growth story."
Jefferies raises FY13 from $2.44 to $2.50.
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 $87.38 yesterday, with a 52 week range of $48.28-$96.65.
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Analyst, Randal J. Konik, said, "ULTA posted strong quarterly results again, slightly above its recently raised 1Q outlook. This company continues to do a great job driving topline growth through continual newness and effective marketing, as well as tight expense control all while growing square feet over 20%. While the fundamentals remain solid, we believe this is adequately reflected in current valuation."
"We admit, we were wrong in not buying into this name at lower valuations. However the stock is now trading at nearly 35x FY'13 EPS and 15x EV/ EBITDA, and we find it hard to recommend a Buy given that upside is already baked in. As such we look for a more attractive entry point for this unique growth story."
Jefferies raises FY13 from $2.44 to $2.50.
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 $87.38 yesterday, with a 52 week range of $48.28-$96.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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