Bank of America Securities analyst Christopher Nardone has reiterated their bullish stance on BOOT stock, giving a Buy rating on May 12.
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Christopher Nardone has given his Buy rating due to a combination of factors including Boot Barn’s strong sales momentum and effective tariff mitigation strategies. The company has shown impressive quarter-to-date comparable sales growth, which has exceeded expectations, and management’s guidance suggests continued strength in the near term. Additionally, Boot Barn’s ability to manage tariff impacts better than anticipated, by reducing reliance on Chinese sourcing, is expected to mitigate potential profit headwinds.
Furthermore, the company’s strategic pricing on exclusive brands and the authorization of a significant share repurchase program indicate confidence in its financial health and future growth prospects. These factors, combined with an increased price objective based on improved sales trends and valuation metrics, underpin Nardone’s positive outlook on Boot Barn’s stock performance.
According to TipRanks, Nardone is a 4-star analyst with an average return of 16.2% and a 60.49% success rate. Nardone covers the Consumer Cyclical sector, focusing on stocks such as Carter’s, American Eagle, and Crocs.
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