Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com - BTIG raised its price target on Boot Barn (NYSE:BOOT) to $226 from $218 while maintaining a Buy rating on the western wear retailer. The stock currently trades at $194.22, still below BTIG’s target but significantly above the InvestingPro Fair Value estimate, suggesting potential overvaluation despite strong performance.
The firm cited Boot Barn’s strong fiscal second quarter performance and continued momentum into the third quarter as key factors behind the price target increase. This momentum is reflected in the company’s impressive 86.14% price return over the past six months and 52.71% return over the last year, according to InvestingPro data.
BTIG highlighted the company’s mid-teens unit growth algorithm and its updated store count target of 1,200 locations, up from a previous target of 900 and current count of less than 500 stores, calling this growth trajectory "unique in retail."
The research firm expressed confidence in initiatives under new CEO John Hazen, particularly efforts to strengthen exclusive brands, improve e-commerce operations, and implement sourcing improvements over the medium term.
While acknowledging that Boot Barn’s valuation exceeds historical averages, BTIG views the multiples as reasonable given the scarcity of retailers capable of delivering mid-teens unit growth combined with sustainable positive comparable sales and strong margins.
In other recent news, Boot Barn Holdings Inc. reported its second-quarter earnings for fiscal year 2026, exceeding analysts’ expectations. The company achieved an earnings per share (EPS) of $1.37, surpassing the projected $1.27. Additionally, Boot Barn Holdings reported revenue of $505.4 million, which was higher than the anticipated $493.84 million. These results indicate strong performance for the quarter. Despite the positive earnings and revenue figures, the company’s stock experienced a decline in aftermarket trading. Analysts’ forecasts had been more conservative, making the actual results a noteworthy development for investors. These recent achievements highlight the company’s financial trajectory.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.