Oppenheimer Lifts Price Target, Estimates on ULTA Salon (ULTA0

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November 16, 2011 8:58 AM EST
Get Alerts ULTA Hot Sheet
Price: $538.39 +3.25%

Rating Summary:
    21 Buy, 13 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 6 | New: 59
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Oppenheimer raised estimates and its price target on Outperform-rated ULTA Salon (NASDAQ: ULTA) from $70 to $85 ahead of Q3 results.

The firm said the beauty category overall continues to be very healthy and the company's business drivers remain intact.

"We suggest investors follow the mantra "let your winners run" when it comes to ULTA, as we expect continued solid results going forward," the analyst said.

FY11 EPS estiamtes go from $1.75 to $1.80 and FY12 from $2.15 to $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 $72.51 yesterday.

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