Yeti ‘mirrors the appeal’ that led 3G to acquire Skechers, says Jefferies

After Skechers (SKX) announced it has agreed to be acquired by 3G Capital for $63 per share in cash, representing a 30% premium to the stock’s 15-day volume-weighted average price, Jefferies said the firm believes Yeti (YETI) “mirrors the appeal that led 3G” to acquire the footwear maker, citing the companies’ innovation pipeline and global expansion, with Yeti further “standing out due to its strong cash flow” and “robust brand.” Jefferies has a Buy rating and $55 price target on Yeti shares.