Boot Barn price target raised to $240 from $235 at BofA

BofA analyst Christopher Nardone raised the firm’s price target on Boot Barn (BOOT) to $240 from $235 and keeps a Buy rating on the shares. Q3 results were in line with the company’s preannouncement at the ICR Conference last month and quarter-to-date comps increased 5.7% in the first five weeks of the quarter, or 9.1% excluding the impact from the winter storms, which the firm views as “a positive data point.” The firm, which remains encouraged that growth remains broad-based across regions and categories, is increasing its Q4 and FY27 EPS estimates by 1% and 2%, respectively, due to a higher sales forecast.