Jefferies Raises Price Target on Boot Barn Holdings (BOOT) to $15
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Jefferies reiterated a Buy rating on Boot Barn Holdings (NYSE: BOOT), and raised the price target to $15.00 (from $13.00), following the company's 2Q earnings report. Comps were +1.8%, exceeding the consensus and accelerating sequentially from flat in F'1Q. BOOT will lap the weakest performance in commodity sensitive regions during F'3Q, which should help these regions further stabilize.
Analyst Randal Konik commented, "BOOT reported an in-line F'2Q, characterized by improving top-line trends, with the momentum continuing into F'3Q. We believe BOOT is executing well in a tough environment, and continue to see significant opportunity as external headwinds abate and the LT growth potential comes back into focus. Maintain Buy, Raining PT to $15 from $13."
Shares of Boot Barn closed at $11.00 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings, Randal Konik
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