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Ulta Salon (ULTA -1.7%) trades lower following a negative mention in Barron's. The publication...

Ulta Salon (ULTA -1.7%) trades lower following a negative mention in Barron's. The publication argues Ulta's valuation (37x expected FY12 earnings) is excessive, particularly given rising competition. It thinks shares should trade at a relatively modest 20x forward multiple, a level that would translate into a $55 price.
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