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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100