Market Overview

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

Share:
Related ULTA
Benzinga's Top Upgrades, Downgrades For January 17, 2018
Ulta Beauty Investors Failing To Reward Stock For Tax Tailwinds, Says Wells Fargo
Piper Jaffray cautious on Ulta Beauty (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
Jan 2018Morgan StanleyUpgradesEqual-WeightOverweight
Jan 2018Wells FargoUpgradesMarket PerformOutperform
Dec 2017BuckinghamUpgradesNeutralBuy

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)

View Comments and Join the Discussion!