Ulta Salon (ULTA): Cautious 3Q Guide But Raised FY Guidance - Piper Jaffray
- Wall Street flat as telecom gains fail to counter oil drop
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Piper Jaffray analyst, Stephanie Wissink, reiterated her Overweight rating on shares of ULTA Salon (NASDAQ: ULTA) after the company beat expectations, guided conservatively based on concentrated infrastructure investment in Q3, and raised the FY.
Comp sales grew an impressive 14%; the outlook implies continued HSD/LDD pace through year-end. Strength in makeup has been the key driver of traffic, growing brand awareness, and conversion; alongside improved merchandising and brand mix. Margin upside will be reinvested this year but signs exist that CY17 model leverage could prove to be substantial.
No change to the price target of $290.00 based on 37x FY18E EPS.
Shares of ULTA Salon closed at $271.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- UPDATE: Stifel Downgrades Arc Logistics Partners (ARCX) to Hold
- UPDATE: Stifel Upgrades Martin Midstream Partners (MMLP) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!