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Just Taking a Little Off the Top on Ulta -- Market Talk
DOW JONES & COMPANY, INC. 11:59 AM ET 8/26/2016
11:58 ET - At 5.8%, ULTA is poised to notch its worst day of 2016. However, it's just a matter of buy the rumor, sell the news on the beauty-products retailer. Shares had been on a tear, surging more than 80% from February's low as investors got all googly-eyed about ULTA's double-digit same-store-sales growth of late. The metric rose even more than anticipated in F2Q at 14% while this quarter's view is a stronger-than-expected 11-13%. JPMorgan and Nomura raise their price targets on the stock from the mid-$240s to $290 and $287, respectively, with JPMorgan projecting its target being reached by December. ULTA is at the bottom of the S&P 500 with its decline to $255.69. ([e-mail]; @ kevinkingsbury)


(END) Dow Jones Newswires
08-26-161159ET
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