Yeti Holdings' Outlook Dims: Analyst Drops Rating Due To Macro Conditions And Stock Performance
Portfolio Pulse from Priya Nigam
KeyBanc Capital Markets analyst Noah Zatzkin has downgraded Yeti Holdings Inc (NYSE:YETI) from Sector Weight to Underweight, citing macro conditions, price action, intensifying competition, and high inventory levels as risks to its performance. Zatzkin also lowered the earnings estimates for fiscal 2023 and 2024. Yeti's shares were down 5.38% to $40.31 at the time of publication.
July 17, 2023 | 2:28 pm
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Yeti Holdings has been downgraded by KeyBanc Capital Markets due to macro conditions and other risks, which could negatively impact its stock price.
The downgrade by KeyBanc Capital Markets, based on macro conditions, price action, intensifying competition, and high inventory levels, indicates a negative outlook for Yeti Holdings. This could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100