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Thursday, March 28, 2024

UPDATE: Morgan Stanley Reiterates On Ulta Salon, Cosmetics & Fragrance, Inc. Following Solid Q2 Results

Courtesy of Benzinga.

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In a report published Friday, Morgan Stanley analyst Simeon Gutman reiterated an Equal-Weight rating on Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA), and raised the price target from $114.00 to $121.00.

In the report, Morgan Stanley noted, “ULTA’s Q2 release delivered on two critical levels. First, Q2 results were strong and much better than expected driven by 9.6% comps and ~125 bps of EBIT margin expansion. Second, the much anticipated 5-year outlook was solid, embedding a mid-teens EBIT margin target and low 20% long-term EPS growth. All of this excludes share buyback which we expect to boost annual EPS growth by approximately 2%.”

Ulta Salon, Cosmetics & Fragrance closed on Thursday at $97.48.

Latest Ratings for ULTA

Date Firm Action From To
Sep 2014 Citigroup Maintains Buy
Sep 2014 JP Morgan Maintains Overweight
Sep 2014 Morgan Stanley

View More Analyst Ratings for ULTA
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Simeon GutmanAnalyst Color Price Target Analyst Ratings

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