Canaccord Genuity Reiterates Hold Rating on Yeti Holdings Inc. (YETI)

Canaccord Genuity analyst Brian McNamara reiterated a Hold rating and $44.00 price target on Yeti Holdings Inc. (NYSE: YETI).

The analyst commented: "YETI has historically been successful in product innovation since its expansion into drinkware in 2014, so we analyzed recent or upcoming product innovations to see where
the brand is and might be heading. These products include the Rambler Pitcher, the French Press, Mystery Ranch bags, cast iron skillets, and food storage containers. As we discussed last month, while YETI has performed better than we expected YTD, we remain cognizant of emerging competitive pressures in its core categories and a weakening consumer, which has caused several other peers to cut guidance during the CQ2 earnings cycle. We believe these new product launches demonstrate that the company is looking for new avenues to grow. We maintain our HOLD rating and $44 PT."

For an analyst ratings summary and ratings history on Yeti Holdings Inc. click here. For more ratings news on Yeti Holdings Inc. click here.

Shares of Yeti Holdings Inc. closed at $37.31 yesterday.

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