Yeti Holdings, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Chasen Bender from Citi maintained a Buy rating on the stock and has a $44.00 price target.
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Chasen Bender has given his Buy rating due to a combination of factors including positive trends in web traffic data and market share recovery for Yeti Holdings. The analysis of Similarweb data by Citi’s Innovation Lab indicates a solid increase in global web traffic for hydration brands, with Yeti gaining approximately 315 basis points in market share in July, reversing previous declines. This suggests a strong recovery in consumer interest and engagement with Yeti’s products.
Additionally, Yeti experienced a notable acceleration in both unique visitors and total visits to its website in July compared to June, reflecting a growing consumer base. The expected share price return of 29.3% further supports the positive outlook, indicating potential for significant investment gains. These factors collectively contribute to the Buy rating, highlighting Yeti’s promising market position and growth trajectory.