Williams Trading analyst Sam Poser lowered the price target on Boot Barn (NYSE: BOOT) to $202.00 (from $236.00) while maintaining a Buy rating.

The analyst comments "We continue to believe that BOOT is the best growth story in retail. Boot Barn owns the space in better Country, Country Lifestyle, and Country Western, and Work footwear & apparel, and is improving its position in Work apparel and footwear. BOOT is just beginning to reap the benefits from narrowing and deepening it merchandise assortments. We have raised our estimates and reduced our price target from $236 to $202. Our new PT reflects an FY2 PE that is just a hair above the 5-year FY2 average. Our prior PT reflected a P/E that was well above its 5-year average, which won't work unless the investors get over their consumer discretionary yips, which does not appear imminent."