Yeti price target raised to $37 from $34 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Yeti (YETI) to $37 from $34 and keeps an Equal Weight rating on the shares. Incremental U.S. Drinkware headwinds are more than offset by lower expected tariff expense, the analyst tells investors in a post-earnings note. Following the Q2 report, the firm lowered its revenue estimates to reflect U.S. Drinkware headwinds and a more cautious consumer, while its earnings estimates move higher on a lower tariff impact. The firm sees near-term risk to consensus given limited visibility to a Drinkware inflection and the increasingly cautious consumer, the analyst added.