Boot Barn (BOOT) PT Raised to $229 at Piper Sandler

Piper Sandler analyst Peter Keith raised the price target on Boot Barn (NYSE: BOOT) to $229.00 (from $220.00) while maintaining an Overweight rating.

The analyst commented: "BOOT continues to demonstrate some of the strongest fundamentals in our coverage space resulting in EPS growth of >20%. The company is showing an ability to lap tough compares without difficulty, and it has a variety of intriguing drivers for both sales and gross margin (specifically, merchandise margin). Big picture, BOOT appears well-positioned as its Country Lifestyle customer segment becomes more mainstream. And BOOT is very well positioned for any uptick in U.S. manufacturing jobs - as forecasted by the PSC Macro team. BOOT posted solid preliminary FQ3 results."

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