Susquehanna Starts Boot Barn (BOOT) at Neutral

Susquehanna analyst Sam Poser initiates coverage on Boot Barn (NYSE: BOOT) with a Neutral rating and a price target of $35.00.

The analyst comments "Boot Barn has had strong SSS & EPS growth since its IPO in 2014, driven by strategic tuck-in acquisitions, organic B&M store growth, an improved digital presence, successful exclusive brand expansion, and the rollout of the work category. The aforementioned drivers are likely to serve BOOT well for the future. However, we contend that elevated inventory levels, and inconsistent store service and merchandising standards between organically opened Boot Barn stores (Good) and acquired stores (some good, some bad) balance the risk/reward proposition."

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 $35.10 yesterday.

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