Cowen Raises Price Target on Ulta Salon (ULTA) to $184 Following 2Q15

Cowen reiterated an Outperform rating on ULTA Salon (NASDAQ: ULTA), and raised the price target to $184.00 (from $178.00), following the company's 2Q15. ULTA had comps of +10.1% above Street's +8.8%. Management boosted comp guide for the FY to +8-10%, up from prior +7-9%. Comps in the back half do become slightly harder, though Analyst Oliver Chen believes that ULTA is prepared to keep their momentum going through the Holiday season.

Chen commented, "2Q beat on better comps (+10.1% vs. Street +8.8%) & raised FY15 guide. Product-driven newness abounds for Holiday & 2H, which could help against tougher 2H compares. Reit. Outperform on dynamic retail concept & integration of service options, compelling loyalty program opportunities, comp momentum on higher avg. ticket & defensive nature of beauty industry."

For an analyst ratings summary and ratings history on ULTA Salon click here. For more ratings news on ULTA Salon click here.

Shares of ULTA Salon closed at $160.24 yesterday.

You May Also Be Interested In

• Canaccord Upgrades Iluka Resources Ltd (ILU:AU) (ILKAF) to Buy
• Berenberg Starts Natwest Group PLC (NWG:LN) (NWG) at Buy
• Axis Capital Limited Upgrades Zensar Technologies Ltd. (ZENT:IN) to Buy (1)