Boot Barn price target raised to $140 from $110 at Benchmark

Benchmark raised the firm’s price target on Boot Barn to $140 from $110 and keeps a Buy rating on the shares after management reported last week that comps have turned positive 1.4% in Q1. The firm, which notes it had previously indicated that better visibility on improved comps would be a major catalyst for the multiple and stock performance, raised its FY25 EPS estimate to $4.80 from $4.45 as it argues that improved comps should allow for improved expense leverage.