UPDATE: Credit Suisse Initiates Ulta Salon, Cosmetics & Fragrance at Outperform on Positioning, Growth Outlook

Credit Suisse initiated coverage on Ulta Salon, Cosmetics & Fragrance

with an Outperform rating and a $120.00 price target. Credit Suisse noted, "We are initiating coverage of ULTA with an Outperform rating, reflecting the unique positioning, rapid growth, and competitive advantages that ULTA enjoys. What we like most is that ULTA goes to market with a unique offering, one not available to its primary competitors. With proper execution, that gives the company a unique advantage in its space, a rare phenomenon in today's ultra-competitive retail environment." Ulta Salon, Cosmetics & Fragrance closed at $97.37 on Monday.