Boot Barn Holdings Inc. /zigman2/quotes/208050749/composite BOOT +10.65% stock sank 9.4% in Friday trading as at least two analyst groups cut their price targets and concerns rise about the road ahead for the Western-style retailer. Late Thursday, Boot Barn reported fiscal third-quarter net income totaling $69.2 million, or $2.27 per share, up from $29.6 million, or $1.00 per share, the year before. Adjusted EPS of $2.23, beating the FactSet consensus for $2.22. Sales of $485.9 million were up from $302.3 million last year, and also ahead of the FactSet consensus for $483.1 million. "We doubt Boot Barn's 3Q22 earnings eased investors' concerns on how the company will perform in FY23 given looming macro headwinds and tough compares," wrote UBS in a note. "We share this concern. Fiscal stimulus may have boosted FY22 sales more than we realize and inflation could harm Boot Barn's middle-income consumer more than we current expect." UBS held on to its neutral stock rating and cut its price target to $110 from $129. Baird cut its price target to $130 from $145 (stock rated neutral). Cowen, on the other hand, is more optimistic. "We have increased confidence new shoppers will be sticky, and encouragingly may be slightly more productive than legacy shoppers," analysts said. Cowen rates Boot Barn outperform with a $140 price target. Boot Barn stock has rallied 49% over the last year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.95% is up 15%.