Piper Sandler Highlights Strong Boot Barn (BOOT) Fundamentals With 20% EPS Growth, Multiple Expansion Drivers

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.

On the same day, Citi increased the firm’s price target for Boot Barn Holdings Inc. (NYSE:BOOT) 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. (NYSE:BOOT) operates specialty retail stores in the US and internationally. The company’s lifestyle retail chain sells western & work-related footwear, apparel, and accessories.

While we acknowledge the potential of BOOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.