Canaccord Genuity analyst Brian McNamara maintained a Hold rating on Yeti Holdings (YETI – Research Report) yesterday and set a price target of $42.00.
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Brian McNamara has given his Hold rating due to a combination of factors affecting Yeti Holdings. Despite the company’s strong Q4 performance with sales slightly exceeding expectations and higher than projected operating income and EPS, concerns remain about the competitive landscape in the drinkware sector. Management’s recent acknowledgment of these pressures indicates potential challenges that could be more severe than initially anticipated.
Additionally, there is uncertainty regarding future growth, particularly in the U.S. market, where some believe it may have reached a plateau. While international sales are expected to see mid-teens percentage growth, the U.S. is projected to grow at a more modest mid-single-digit pace. The company’s guidance for 2025 shows stronger growth anticipated in the latter half of the year, driven by new product innovations and supply chain adjustments. Consequently, McNamara has adjusted the price target to $42 from $44, maintaining a cautious outlook with a Hold recommendation.
In another report released yesterday, Bank of America Securities also maintained a Hold rating on the stock with a $42.00 price target.