Jefferies Upgrades Boot Barn to Buy, Sparking Stock Rally

Deep News04-07 03:02

Shares of Boot Barn surged on Monday after analysts at Jefferies recommended investors buy the dip in the western wear retailer's stock.

Analyst Corey Tarlowe raised his rating on the stock from Hold to Buy. Tarlowe's price target of $195 suggests the stock has over 44% upside from its closing price last week.

During Monday's midday trading, the stock gained more than 8%. However, the stock is still down about 17% for the year 2026 and is on track to break a three-year winning streak.

Tarlowe wrote in a report to clients on Monday, "Despite sustained revenue resilience, continued new store growth, and stable fundamentals, the stock's valuation has declined. Setting aside macro concerns, following this sell-off, we believe the risk-reward profile is now more favorable, with potential upside for both earnings and the stock price."

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