Morgan Stanley Raises Price Target on Ulta Salon (ULTA) Following 2Q15
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Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Morgan Stanley reiterated an Equalweight rating on ULTA Salon (NASDAQ: ULTA), and raised the price target to $180.00 (from $165.00), following the company's 2Q15 earnings report. Q2 comps of 10.1% compared to consensus of ~9%. ULTA generated EPS of $1.15, $0.03 better than the Street.
Analyst Simeon Gutman commented, "ULTA's Q2 results were better than expected and represent the 3rd consecutive quarter of double digit comps. Q2 comps of 10.1% were inline with high market expectations (vs. consensus of ~9%), and were driven by strength in stores and online and were anchored by 7% traffic growth. ULTA continues to accumulate market share from many channels and formats as its multi-year comp stacks accelerated by another ~100 bps. Better comps and
stronger expense leverage (~50 bps) helped generate EPS of $1.15 (+22% YoY), $0.03 better than the Street."
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 $160.24 yesterday.
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