Courtesy of Benzinga.
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