Boot Barn should be bought on CEO departure, says Williams Trading

Williams Trading analyst Sam Poser says Boot Barn’s (BOOT) fiscal Q2 results “were good, but not great,” with the post-earnings selloff due to the announcement that Jim Conroy, its CEO over past 12 years, will be leaving effective November 22 to become CEO of Ross Stores. Boot Barn’s long term story remains in place, even with the CEO’s departure, the analyst tells investors in a research note. The firm says the company’s customer retention is increasing, and it is likely that the new Interim CEO will accelerate the improvement. Williams recommends buying the shares with a Buy rating and $173 price target