ULTA Salon (ULTA) PT Raised to $375 at Cowen; 'Buy on Pullback'

March 12, 2021 11:42 AM EST
Get Alerts ULTA Hot Sheet
Price: $322.22 +0.68%

Rating Summary:
    16 Buy, 16 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Cowen analyst Oliver Chen raised the price target on ULTA Salon (NASDAQ: ULTA) to $375.00 (from $300.00) while maintaining an Outperform rating, telling clients to buy on weakness.

The analyst commented, "4Q comp was stronger at -4.8% vs. Street's -11%, driving GM upside on merch margins growth, and store & labor cost leverage. EBIT margin at 11.6% solidly beat Street's 8.3%. Store traffic remains challenged but showing improvement; e-comm decelerated to +72% y/y (32% of sales) with BOPUS at 5% of sales (vs. 4% in 3Q)."

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