Jefferies Raises Price Target on Boot Barn Holdings (BOOT) to $13; Reiterates Buy

Jefferies reiterated a Buy rating on Boot Barn Holdings (NYSE: BOOT), and raised the price target to $13.00 (from $12.00), following the company's 1Q earnings report. Comps were +0.4%, slightly better than flat guidance. Heading into F'2Q, July comps are negative given tough compares, but this should alleviate through the quarter.

Analyst Randal Konik commented, "F'1Q results beat sales and margins and the company reiterated full year guidance, which we view favorably in the current difficult environment. Although near-term sales trends remain choppy and visibility is low, we are encouraged by the sequential improvements and believe BOOT remains wellpositioned over the LT. Maintain Buy, nudging up PT to $13."

For an analyst ratings summary and ratings history on Boot Barn click here. For more ratings news on Boot Barn click here.

Shares of Boot Barn closed at $9.81 yesterday.

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