Market Overview

UPDATE: Piper Jaffray Raises PT to $123 on Ulta on Quarterly Beat and Raise

Share:
Related ULTA
7 Stocks You Should Be Watching Today
Ulta Salon Tops Q1 Views
Ulta Salon tips same-day delivery partnership with Google on earnings call (Seeking Alpha)

Piper Jaffray reiterated its Overweight rating on Ulta (NASDAQ: ULTA) and raised its price target from $118 to $123.

Piper Jaffray said "We are raising our EPS outlook and increasing our price target from $118 to $123 following ULTA's FQ3 report in which EPS beat our estimate and management guided FQ4 same-store sales to +5% to +7%, which includes the negative impact due to Hurricane Sandy. Importantly, Ulta announced that it plans to open 125 stores next year for 22% square footage growth, above its longer-term target of 15-20% unit growth. We continue to favor ULTA as a top growth idea given strong growth and a secular shift in beauty distribution away from department stores and toward the specialty-store channel."

Ulta closed at $93.15 on Thursday.

Latest Ratings for ULTA

DateFirmActionFromTo
May 2015Buckingham ResearchInitiates Coverage onBuy
Apr 2015NomuraUpgradesNeutralBuy
Apr 2015Piper JaffrayUpgradesNeutralOverweight

View More Analyst Ratings for ULTA
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (ULTA)

Around the Web, We're Loving...