Boot Barn pullback presents ‘particularly attractive opportunity,’ says BofA

BofA analyst Christopher Nardone argues that the recent pullback in Buy-rated Boot Barn (BOOT) shares “offers a particularly attractive opportunity to own one of the more compelling growth stories in retail.” The stock is down 19% month-to-date as the multiple has compressed given tariffs and the related impact to both margins and consumer sentiment, but the firm’s positive thesis revolves around confidence in the new store pipeline, a growing customer base in a market with limited competition, and the ability for operating margin expansion despite tariffs, says the analyst, who notes the the firm’s unchanged $195 price target implies nearly 50% upside potential.