Cowen Raises Price Target on Ulta Salon (ULTA) to $286 Following 2Q

Cowen reiterated an Outperform rating on ULTA Salon (NASDAQ: ULTA), and raised the price target to $286.00 (from $265.00), following the company's 2Q earnings report. ULTA reported EPS of $1.43, 3c ahead of the Street's $1.40 estimate.

Analyst Oliver Chen commented, "ULTA beat 2Q EPS expectations by 3c, and raised FY16 guide. However, shares are indicating -LSD tonight. We believe Street's high expectations were likely already priced into the shares ahead of the solid print, and we would be buyers on weakness. We're most encouraged by: +14.4% comp driven by txns & ticket, + gross margin +110bp. Reit. Outperform."

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 $271.45 yesterday.

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