Yeti price target lowered to $38 from $52 at Piper Sandler

Piper Sandler analyst Peter Keith lowered the firm’s price target on Yeti (YETI) to $38 from $52 and keeps an Overweight rating on the shares. The firm says Yeti is caught in the crosshairs of weakening consumer demand and tariff risk to its Drinkware business. The company is doing a nice job of reducing its China exposure such that 20% of the U.S. Drinkware business will be sourced from China by the end of 2025, Piper adds. At a 145% tariff, the firm wouldn’t be surprised if Yeti halted all Drinkware shipments into the U.S. from China. Should China tariffs drop to 60%, its tariff math suggests Yeti could offset the full effects of a 60% tariff with a 5% price increase across the product line.