Yeti upgraded to Sector Weight from Underweight at KeyBanc

KeyBanc upgraded Yeti (YETI) to Sector Weight from Underweight without a price target The firm reduced estimates but upgraded the shares citing Yeti’s improved relative valuation. The company has made efforts to diversify drinkware manufacturing outside of China to other locations that are now impacted by new tariffs, the analyst tells investors in a research note. Yeti’s other main segment manufacturing, coolers and equipment, is now likely exposed to tariffs as well in Thailand, Malaysia, Indonesia, Vietnam, adds KeyBanc.