UPDATE: Citigroup Reiterates on Ulta Salon, Cosmetics & Fragrance as Pullback Creates Opportunity

In a report published Friday, Citigroup analyst Oliver Chen reiterated a Buy rating on Ulta Salon, Cosmetics & Fragrance (NASDAQ: ULTA ), but lowered the price target from $145.00 to $123.00. In the report, Citigroup noted, “Comps encouragingly +6.8% vs. guidance of +5-7%, & EPS only a slight miss, however,