BMO Capital Starts ULTA Salon (ULTA) at Outperform

BMO Capital initiates coverage on ULTA Salon (NASDAQ: ULTA) with a Outperform rating and a price target of $295.00.

Analyst Shannon Coyne commented, "We view ULTA as a core growth holding and believe the company’s unmatched combination of favorable industry dynamics, target demographics and category growth (+MSD), near-term defensive moats, brick and mortar whitespace, and strong management team will continue to support the stock’s premium. While we believe heightened investor expectations leave little room for error, our store maturity curve analysis, coupled with mid-single-digit industry growth, gives us confidence in our earnings estimates. As a result, we expect ULTA’s multiple to remain elevated and the stock to move up with earnings growth."

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 $252.93 yesterday.

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