Boot Barn Holdings Inc. (NYSE:BOOT) is one of the stocks that should double by 2030. On January 16, Piper Sandler increased its price target for Boot Barn to $229 from $220 with an Overweight rating. The firm highlighted that the company exhibits some of the strongest fundamentals in its sector, leading to EPS growth exceeding 20%. The firm noted that Boot Barn is navigating difficult year-over-year comparisons and possesses several compelling drivers for both revenue and gross margin expansion.
These factors contribute to the company’s robust performance despite a challenging retail environment. Overall, Piper Sandler believes that Boot Barn is well-situated to benefit from the Country Lifestyle customer segment, gaining mainstream popularity.
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On the same day, Citi increased the firm’s price target for Boot Barn Holdings Inc. to $230 from $225 while keeping a Buy rating. The firm considers the shares attractive after the decline following the FQ3 preannouncement. Following management discussions, Citi believes that Boot Barn is experiencing denim strength and a recovery in work boots.
Boot Barn Holdings Inc. operates specialty retail stores in the US and internationally. The company’s lifestyle retail chain sells western & work-related footwear, apparel, and accessories.
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This article is originally published at Insider Monkey.
