Boot Barn (BOOT) PT Raised to $54 at Craig-Hallum as SSS Accelerates in January

Craig-Hallum analyst Jeremy Hamblin raised the price target on Boot Barn (NYSE: BOOT) to $54.00 (from $48.00) after the company reported Q3 results in-line with their January pre-release and noting an acceleration on SSS to up 17% in the first four weeks of January after up 4.6% in Q3.

The analyst reiterated the Hold rating, stating "While stimulus checks are clearly helping it is noteworthy that retail store comps are up 20% in January and highlights their customers’ preference for an in-store shopping experience. With potentially more stimulus on the way and the company lapping easy compares beginning in March, we expect strong results to continue over at least the next six months. However, we remain on the sidelines as we believe the current stock reflects both strong sales and margin expansion through FY22".

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