In a report released yesterday, Brian McNamara from Canaccord Genuity maintained a Hold rating on Yeti Holdings (YETI – Research Report), with a price target of $42.00.
Brian McNamara has given his Hold rating due to a combination of factors influencing Yeti Holdings. The recent appointment of two new directors to Yeti’s Board, along with a cooperation agreement with Engaged Capital, suggests a positive shift towards refreshing the company’s strategic direction. Engaged Capital’s involvement, known for its constructive approach with management and boards, is expected to bring beneficial changes, drawing from its experience with other strong consumer brands like The North Face.
Despite these promising developments, McNamara maintains a Hold rating due to uncertainties in the near term. Concerns about tariffs, competitive pressures, and fluctuating consumer demand contribute to this cautious stance. While the market has reacted positively to the recent changes, and there is potential upside to the $42 price target, these uncertainties warrant a conservative approach at this time.
In another report released on March 13, Bank of America Securities also reiterated a Hold rating on the stock with a $42.00 price target.