Jefferies Raises Price Target on Ulta Salon (ULTA) to $255 Following 2Q Beat

August 26, 2016 9:55 AM EDT
Get Alerts ULTA Hot Sheet
Price: $239.86 -2.46%

Rating Summary:
    11 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
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Jefferies reiterated a Hold rating on ULTA Salon (NASDAQ: ULTA), and raised the price target to $255.00 (from $215.00), following the company's 2Q earnings report. ULTA reported another strong quarter with comps +14%, above Street and guidance. ULTA raised its full year guidance to 11-13% comp and low to mid 20% EPS growth.

Analyst Randal Konik commented, "ULTA reported another solid qtr, with comps and EPS beating expectations (albeit with a lower magnitude than in prior qtrs). Looking ahead, we expect healthy fundamentals to continue given ULTA's attractive market positioning in the beauty industry, a robust product pipeline, impactful marketing strategies and stellar execution. Valuation is all that keeps us on the sidelines, given high expectations for this stock. Maintain Hold, raise PT to $255."

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 $271.45 yesterday.

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