BTIG raised the firm’s price target on Boot Barn (BOOT) to $200 from $190 and keeps a Buy rating on the shares. The company’s Q3 results were in line with a pre-announcement, while the outlook for Q4 shows that Boot Barn is off to a good start, the analyst tells investors in a research note. The stock’s valuation is ahead of historical averages, but its multiple is reasonable given the scarcity of retailers capable of driving mid-teens unit growth combined with sustainable positive comps, the firm added.
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