From Financial Modeling Prep: 2025-05-27 09:27:00

Boot Barn (NYSE:BOOT) saw shares rise over 1% pre-market as JPMorgan raised its price target to $207 from $196, citing confidence in the retailer’s multi-year earnings potential. The firm projects fiscal 2026 EPS of $6.95, above management’s guided range and Street consensus. Same-store sales are tracking at +9% quarter-to-date, with potential for further outperformance.

JPMorgan identifies three key drivers for potential upside: stronger same-store sales performance, margin expansion through exclusive brand growth, and offsetting tariff headwinds with targeted pricing. The firm expects over 300 basis points of same-store sales outperformance in the second half, driven by reinvigorated demand in the Work Boot category.

Exclusive brands could significantly contribute to gross profit expansion for Boot Barn, especially if the company raises prices slightly to absorb tariff-related cost pressures. JPMorgan’s analysis reinforces confidence in the retailer’s ability to navigate challenges and capitalize on growth opportunities.



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