Boot Barn price target raised to $150 from $120 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin raised the firm’s price target on Boot Barn to $150 from $120 and keeps a Buy rating on the shares. The firm notes Boot Barn filed an 8-K with a new presentation in conjunction with attending an investor conference that provided an encouraging update on Q1 same-store sales implying that comps have accelerated over the past month. There was no formal change to guidance, but May sales results have clearly positioned Boot Barn to beat prior guidance despite June compares that are the toughest monthly lap in Q1, Craig-Hallum adds.