Boot Barn shares jumped 8% after Jefferies upgraded the stock from Hold to Buy with a $195 price target.
Analyst Corey Tarlowe said valuation fell from ~24x to 16x earnings while revenue growth, new stores, and fundamentals stay strong.
Despite macro‑related concerns, the upgrade signals better risk‑reward and potential upside for earnings and the stock.
Shares closed the prior Friday at $135.16, indicating a valuation reset before the price target.