Shares of Ulta Salon, Cosmetics & Fragrance (ULTA) - Get Report are down slightly Monday with the broader market. This doesn't fazeTheStreet's Jim Cramer, he said Monday.

Analysts at Keybanc are bumping their price target to $203 from $191, Cramer, co-manager of the Action Alerts PLUS portfolio, pointed out on CNBC's "Stop Trading" segment. 

Ulta has tremendous momentum and is one of the few retailers that won't see its business dented by Amazon (AMZN) - Get Report , he said. 

Ulta Salon, Cosmetics & Fragrance ULTA data by YCharts

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The company is a "fantastic, double-digit, same-store sales grower," and the stock's 45% rise in 2015 reflects that, Cramer said. That's why the stock was a big winner in 2015 and will continue to be beautiful this year. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.