On CNBC’s Stop Trading segment, Jim Cramer said he had a “bone to pick” with Goldman Sachs about its downgrade of Ulta Salon from hold to buy while increasing the price target fro $122 to $132. The stock fell 3%, and Cramer thinks it is a buy on the decline, particularly because it is likely to do well during the holidays and he has faith in the CEO Mary Dillon.
Critics of the stock have felt that the company was only interested in short-term results, but the company is involved in a multi-year plan to revamp operations. “Goldman Sachs should never have downgraded this stock, ” Cramer said.
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