Boot Barn price target lowered to $125 from $127 at BTIG

BTIG analyst Janine Stichter lowered the firm’s price target on Boot Barn to $125 from $127 but keeps a Buy rating on the shares. The company’s Q4 showed “encouraging upside” on revenue and gross margins while its momentum carried into Q1, with flat quarter-to-date comps and slightly positive comps May to date, the analyst tells investors in a research note. Boot Barn’s FY25 guidance is below consensus, but it conservatively continues to incorporate negative comps, taking into account the uncertainty later in the year around a condensed holiday period and the election, on top of a cautious consumer, the firm added.