Boot Barn, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Jay Sole from UBS maintained a Buy rating on the stock and has a $265.00 price target.
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Jay Sole has given his Buy rating due to a combination of factors that, in his view, support substantial upside in Boot Barn’s stock. He sees Boot Barn as the clear leader in the specialized westernwear and workwear retail segments, with ample room to expand its store base by several hundred locations over the next five years, driving robust earnings growth. His conviction is reinforced by the company’s strong recent performance, including an upward revision to revenue and EPS guidance for 3Q26 and broad-based comparable sales strength across categories, especially work boots, with December highlighted as an exceptionally strong month. Based on this growth profile and execution, he believes the current valuation multiple can expand to reflect a premium growth story, justifying a price target that sits significantly above the present share price.
In addition, Sole emphasizes strategic initiatives that can enhance profitability and market share over time. Boot Barn’s rollout of standalone e-commerce sites for its owned brands, following solid results from earlier digital launches, is expected to boost higher-margin private label penetration, improve customer acquisition, and support merchandise margin expansion. Management’s plan to steadily increase exclusive brands as a share of total sales and to capture scale efficiencies with both third-party and proprietary vendors underpins his expectation for 30–40 basis points of annual merchandise margin improvement. He also notes the company’s investments in advanced digital tools, including AI-driven search and agentic commerce capabilities, as long-term enablers of better customer experience and operational efficiency, further supporting his positive rating.
According to TipRanks, Sole is a 4-star analyst with an average return of 5.3% and a 51.32% success rate. Sole covers the Consumer Cyclical sector, focusing on stocks such as Nike, Gap Inc, and American Eagle.
In another report released on January 12, BTIG also maintained a Buy rating on the stock with a $235.00 price target.