Jefferies Sees Yeti Holdings Inc. (YETI) Upside to $131 After Earnings
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Jefferies analyst Randal Konik reiterated a Buy rating and $115.00 price target on Yeti Holdings Inc. (NYSE: YETI) after Q1 sales were up over 40% showing strength across all products and channels. It's notable that international sales were up more than 100%. Guidance for 2021 includes revenue growth of 20-22% (prior +15-17%) and adj. EPS of $2.28-$2.32 (prior $2.11-$2.14).
The analyst stated "The brand has gotten even stronger, globalizing, scaling and mgmt executing flawlessly. We believe the YETI brand has significant product opportunity and massive global appeal which means years of outsized growth. Margins should continue to expand and free cash flow accelerate. With guidance raised and upward earnings bias ahead, YETI remains among our top picks as a beneficiary of The Great Outdoors Mega Trend. Base case PT remains $115 / Upside case PT $131."
Shares of Yeti Holdings Inc. closed at $85.82 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesJefferies & Co, Earnings, Randal Konik
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