Analyst Stephen Grambling from Morgan Stanley maintained a Hold rating on Yeti Holdings and keeping the price target at $39.00.
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Stephen Grambling has given his Hold rating due to a combination of factors that suggest both opportunities and uncertainties for Yeti Holdings. The company is expected to benefit from international expansion, increased brand awareness, and new product innovations, which could drive sales improvements in the upcoming quarters. However, the overall impact on the stock will largely depend on the performance of the U.S. Drinkware segment, which needs to show a consistent recovery.
While there is optimism from the recent 3Q beat and anticipated sales acceleration, uncertainties remain regarding consumer demand and wholesaler sentiment in the U.S. The company is poised for revenue growth in the coming years, supported by easing supply chain challenges and international market entries. Despite these positive indicators, Grambling maintains a cautious stance, awaiting more definitive retail data to confirm a strong recovery trajectory, hence the Hold rating.
In another report released on November 10, Roth MKM also maintained a Hold rating on the stock with a $37.00 price target.