Boot Barn price target lowered to $83 from $92 at B. Riley

B. Riley analyst Jeff Lick lowered the firm’s price target on Boot Barn to $83 from $92 and keeps a Buy rating on the shares following the earnings report. The primary reason for the downward guidance revision is greater than company average weakness in its ladies’ fashion/discretionary category, the analyst tells investors in a research note. The firm encourages investors to focus on Boot Barn’s near decade-long 10%-plus unit growth potential with 60% cash-on-cash returns, however.