BTIG analyst Janine Stichter raised the firm’s price target on Boot Barn (BOOT) to $226 from $218 and keeps a Buy rating on the shares. The company’s Q2 marked another strong quarter, with momentum continuing into Q3, and its mid-teens unit growth algo remains firmly intact, the analyst tells investors in a research note. The stock’s valuation is ahead of historical averages, but the firm sees multiples as reasonable given the scarcity of retailers capable of driving mid-teens unit growth, combined with sustainable positive comps and strong margins, the firm added.
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