In a report released today, Christopher Nardone from Bank of America Securities maintained a Buy rating on Boot Barn (BOOT – Research Report), with a price target of $195.00.
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Christopher Nardone has given his Buy rating due to a combination of factors that make Boot Barn an attractive investment opportunity. He highlights the recent decline in share price as a particularly appealing entry point for investors, with the stock experiencing a significant decrease compared to the S&P 500. This pullback presents a chance to invest in a retail growth story that continues to show robust earnings potential.
Nardone’s confidence is bolstered by Boot Barn’s strong sales performance, promising new store pipeline, and growing customer base in a market with limited competition. Despite the challenges posed by tariffs, he believes the company can manage the impact through strategic vendor negotiations and possible pricing adjustments. Additionally, Nardone’s valuation suggests a substantial upside, driven by expected sales and operating margin growth, making the stock a compelling buy.
In another report released on February 4, Citi also reiterated a Buy rating on the stock with a $178.00 price target.