Stephens upgrades Boot Barn to Overweight in call for ‘traders and investors’

As previously reported, Stephens upgraded Boot Barn (BOOT) to Overweight from Equal Weight with a price target of $237, up from $196. The company has a well-defined, proven earnings growth algorithm with a management team that is “confident, in control and pulling the right levers,” says the analyst, who adds that the firm’s upgrade is both a tactical call with an eye towards a spring consumer trade and tax refund beneficiaries as well as an investment call where short term disproportionate stock appreciation seems likely.