Ulta Salon (ULTA +9%) is now rallying strongly following its FQ3 report, closing in on its all-time high in the process. While the cosmetics retailer's top-line guidance was lukewarm, it guided for FQ4 same-store sales growth of 6%-8%, which is above Piper's 4% estimate, and management's 3%-5% long-term target. Jefferies is maintaining a Hold, but thinks highly of management's expansion plans. (transcript)
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