Taylor Swift’s tour an ‘underappreciated catalyst’ for Boot Barn, says Jefferies

Jefferies analyst Corey Tarlowe notes that when looking at Google Trends for "what to wear to Taylor Swift concert," the popularity of the search is growing and also points out that the #erastouroutfit on TikTok has over 124.0M views, with many outfit ideas filled with cowboy hats, sequins, and western boots. The firm, which believes Taylor Swift’s tour is an "underappreciated catalyst" for Boot Barn, believes this could provide an incremental $10.6M in sales in its base case after having conducted a scenario analysis. The firm, which sees sales and margin upside ahead and recommends buying Boot Barn shares, keeps a Buy rating and $88 price target on the stock.