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UPDATE: Goldman Sachs Raises PT to $117 on Ulta on Quarterly Results

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Goldman Sachs reiterated its Buy rating on Ulta (NASDAQ: ULTA) and raised its price target from $115 to $117.

Goldman Sachs noted, "In the context of a retail sector that suddenly seems a bit less certain, given broadly softer November sales trends and unresolved fiscal policy issues, ULTA's unit growth and consumer traction remain highly appealing. We trim our 4Q12 EPS estimate modestly, to $0.99 from $1.00 on softer gross margin and a lower SSS estimate, primarily due to the impact of hurricane Sandy. We hike our 2013 and 2014 EPS estimates to $3.50 and $4.45 from $3.48 and $4.35, respectively, driven by tighter cost control and stronger sales contribution from new stores (better new space productivity, larger new store size than in our prior model)."

Ulta closed at $93.15 on Thursday.

Latest Ratings for ULTA

Nov 2015Stifel NicolausInitiates Coverage onHold
Oct 2015Wells FargoAssumesMarket Perform
Sep 2015Wolfe ResearchDowngradesOutperformPeer Perform

View More Analyst Ratings for ULTA
View the Latest Analyst Ratings

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