Boot Barn price target lowered to $96 from $116 at Citi

Citi lowered the firm’s price target on Boot Barn to $96 from $116 and keeps a Buy rating on the shares ahead of the fiscal Q2 report on November 1. The firm expects the company’s Q2 same-store-sales and earnings will be roughly in-line with the Street. Citi’s prior view that Q2 was a beatable guide when Boot Barn reported Q1 results tempered by the company’s store traffic data softening sequentially in August and September, the analyst tells investors in a research note. The firm says the weakness in the shares over the past three months has lowered expectations, creating an attractive risk/reward at current share levels.