YETI Analysts Increase Their Forecasts After Upbeat Q2 Earnings
Portfolio Pulse from Lisa Levin
YETI Holdings reported better-than-expected Q2 2023 earnings and raised its FY23 guidance. Despite a 4% Y/Y sales drop to $402.56 million, adjusted EPS of 0.57 beat the street estimate of $0.47. The company raised its FY23 adjusted EPS outlook to $2.23-$2.32 and sales growth outlook to 4%-5%. Following the announcement, YETI shares jumped 17.3% and analysts from Canaccord Genuity and Baird increased their price targets on YETI.
August 11, 2023 | 12:13 pm
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YETI's better-than-expected Q2 earnings and raised FY23 guidance led to a 17.3% jump in shares and increased price targets from analysts.
YETI's strong Q2 earnings and raised FY23 guidance indicate a positive outlook for the company, which has led to a surge in its stock price. This positive news has also prompted analysts to increase their price targets, suggesting they expect the stock to continue performing well in the short term.
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IMPORTANCE 80
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