Boot Barn (BOOT) PT Lowered to $137 at Citi

Citi analyst Steven Zaccone lowered the price target on Boot Barn (NYSE: BOOT) to $137.00 (from $178.00) while maintaining a Buy rating.

The analyst comments "BOOT will report F4Q earnings on 5/14 after-market. Investors will be primarily focused on tariff-related commentary on mitigation efforts and pricing plans (i.e. hold GM rate or bear some of the cost). We are also intrigued to hear any updated views on strategy now that CEO John Hazen is officially in the seat as of the 5/5 press release. In terms of the financials, we believe F4Q is more/less in-line with the mid-point of original guidance as a strong end to March, based on high frequency data trends, helped offset weakness in February. We believe BOOT is unlikely to provide full-year FY26 guidance given the uncertainty of tariffs. We lower our estimates to reflect this uncertainty and stand -14% below the Street for FY26E EPS. Our new $137 TP (was $178) is based on 24x our lowered FY26E EPS."

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