Jefferies Raises Price Target on ULTA Salon (ULTA), Believes Street Was Anticipating More Outlook Upside
Tweet
Share
E-mailGet Alerts ULTA Hot Sheet
Price: $521.46 +1.23%
Rating Summary:
21 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
21 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies is reaffirming its Hold rating on shares of ULTA Salon (NASDAQ: ULTA) while increasing its price target from $60 to $65.
The company reported solid Q3 results as sales, margins, and future expectations all topped the firms estimates. Jefferies believes the Street may have been looking for more upside to the to the company's guidance than management provided. As a results the firm forecasts that shares may remain flat while trading today.
An analyst at Jefferies comments, "Management remains extremely focused on a variety of long term initiatives, which are all on track or ahead of plan. Notably, sqft guidance for next year was raised to the high end of the long term 15-20% range, as their real estate pipleline is robust and new stores are performing above expectations. The new DC should also help support store growth. Importantly, mgmt reiterated their operating margin goals which we view positively."
The firm is increasing its FY12 and FY13 EPS estimates from $1.72 and $2.15 to $1.82 and $2.25.
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 $68.49 yesterday.
The company reported solid Q3 results as sales, margins, and future expectations all topped the firms estimates. Jefferies believes the Street may have been looking for more upside to the to the company's guidance than management provided. As a results the firm forecasts that shares may remain flat while trading today.
An analyst at Jefferies comments, "Management remains extremely focused on a variety of long term initiatives, which are all on track or ahead of plan. Notably, sqft guidance for next year was raised to the high end of the long term 15-20% range, as their real estate pipleline is robust and new stores are performing above expectations. The new DC should also help support store growth. Importantly, mgmt reiterated their operating margin goals which we view positively."
The firm is increasing its FY12 and FY13 EPS estimates from $1.72 and $2.15 to $1.82 and $2.25.
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 $68.49 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cummins (CMI) PT Lowered to $675 at Jefferies
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & CoSign 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!
