ULTA Salon (ULTA) PT Raised to $290 at Stifel But Remains Sidelined

Stifel analyst Mark Astrachan bumped his target on ULTA Salon (NASDAQ: ULTA) to $290.00 (from $277.00) following strong results but maintained a Hold rating.

"Overall, we believe the F3Q result indicates Ulta continues to gain meaningful share of beauty retail sales, benefiting from the accelerating shift from traditional sales channels such as department stores to specialty retailers, online, and mobile, and to Ulta’s increasing focus on its loyalty program, targeted promotions, new credit card program, and on-trend product offerings, mainly mass and prestige makeup," the analyst commented. "Notably, we attribute sequential deceleration of the 2-year CAGR implied by F4Q comp guidance of 12%-14% to typical management conservatism.

The firm raised F2016, F2017, and F2018 EPS estimates to $6.43, $8.10, and $9.47, respectively, largely reflecting modestly higher comp store sales growth.

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 $257.41 yesterday.

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