Jefferies Raises Price Target on ULTA Salon (ULTA), Waiting For Entry Point
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Price: $515.14 -2.41%
Rating Summary:
21 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
21 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Jefferies is reiterating their Hold rating on shares of ULTA Salon (NASDAQ: ULTA) as they are currently trading above their new price target of $40, up from $34.
The company reported record setting sales and margins numbers in 2010 for the company. The company 4Q10 EPS of $0.49 was $0.04 ahead of the firm and $0.05 ahead of the street. The upside was largely due same store sales growth of 10.4%. The firm comments that they are doing a particularly good job integrating various products, services and marketing channels, which drove their strength in January, and which they expect to carry over into 2011.
ULTA released their 1Q guidance with an EPS range of $0.29-$0.31 with same store sales growth of 5-7% and continued margin expansion. Jefferies states that they are buyers on the stock, but are waiting for a more attractive entry point.
For more ratings news on ULTA Salon click here and for the rating history of ULTA Salon click here.
Shares of ULTA Salon closed at $42.11 yesterday.
The company reported record setting sales and margins numbers in 2010 for the company. The company 4Q10 EPS of $0.49 was $0.04 ahead of the firm and $0.05 ahead of the street. The upside was largely due same store sales growth of 10.4%. The firm comments that they are doing a particularly good job integrating various products, services and marketing channels, which drove their strength in January, and which they expect to carry over into 2011.
ULTA released their 1Q guidance with an EPS range of $0.29-$0.31 with same store sales growth of 5-7% and continued margin expansion. Jefferies states that they are buyers on the stock, but are waiting for a more attractive entry point.
For more ratings news on ULTA Salon click here and for the rating history of ULTA Salon click here.
Shares of ULTA Salon closed at $42.11 yesterday.
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