Jefferies upgrades rating to Buy; Boot Barn shares soar 8%

2026-04-06 18:55:06

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Investing.com – Boot Barn Holdings Inc (NYSE:BOOT) shares rose 8% on Monday. Jefferies upgraded the stock rating from Hold to Buy, with a price target of $195.

Jefferies analyst Corey Tarlowe said the company’s valuation has fallen from about 24 times the price-to-earnings ratio to 16 times, while execution and potential demand trends remain steady. “Even though revenue continues to show resilience, new store growth is ongoing, and the fundamentals remain stable, the stock price has still declined. Despite macro concerns, after this sell-off, we believe the risk-reward is more favorable from here, with both earnings and the stock price having upside potential,” the analyst said.

At the time of the upgrade, Boot Barn’s stock, despite strong revenue performance and continued store expansion, still fell.

The stock closed on Friday at $135.16.

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