Boot Barn (NYSE: BOOT), the western-inspired apparel and footwear retailer, saw its stock surge 5.67% in pre-market trading on Monday, January 13, 2025. This upward movement was fueled by the company's strong third-quarter earnings performance and positive analyst actions.
In its latest quarterly report, Boot Barn delivered impressive results, with revenues rising 13.7% year-over-year to $425.8 million, in line with analysts' expectations. The company also achieved a solid beat on analysts' EBITDA estimates, further bolstering investor confidence.
Analysts were quick to react positively to Boot Barn's strong showing. JPMorgan raised the firm's price target on Boot Barn to $200 from $188 and maintained an Overweight rating on the shares, citing positive insights from meeting with management. Additionally, Citi reiterated its Buy recommendation on the stock, highlighting Boot Barn's robust growth and performance.
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