Boot Barn (BOOT) PT Raised to $147 at Piper Sandler

Piper Sandler analyst Peter Keith raised the price target on Boot Barn (NYSE: BOOT) to $147.00 (from $144.00) while maintaining a Overweight rating.

The analyst commented, "We reiterate our OW rating and increasing our PT to $147 (still 23x FY26E EPS) following a very strong Q1 print, which saw notable upside to estimates and go-forward guidance placed well above estimates. Impressively, BOOT is back to positive comps with 11 of the last 14 weeks running positive (against tough compares). BOOT saw two weeks of comp softness in July from transitory issues that have faded. Looking forward, the set-up seems quite favorable as raised guidance looks reasonably conservative from a combination of easier compares and internal drivers. Product margins are trending favorably from internal drives, and BOOT remains on track for 15% annual store growth."

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