Piper Sandler on Yeti Holdings Inc. (YETI): 'Healthy Risk/Reward as Growth Drivers Remain Intact'

Piper Sandler analyst Peter Keith reiterated an Overweight rating and $52.00 price target on Yeti Holdings Inc. (NYSE: YETI).

The analyst commented: "Healthy Risk/Reward as Growth Drivers Remain Intact; Last week, we hosted investor meetings with YETI management (CEO Matt Reintjes & CFO Mike McMullen), where we found a team excited about the long-term growth prospects both in the U.S. and International. Interestingly, management noted financial/ modeling questions were much less frequent versus in the last several years, with investors instead focused on the long-term growth strategy (which we view as a bullish signal). Key investor concerns on Drinkware and Wholesale sell-thru are pressuring valuation, but mgmt notes getting through tough compares in 1H and ongoing new product innovation should return both to healthy growth. Shares at 12.6x consensus EPS for 2025 present a healthy risk/reward considering a strong pipeline of new product innovations and new category expansions, significant International white space for growth, strategic acquisitions, a clean B/S, and a FCF yield of 6.5%."

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 $36.83 yesterday.

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