Yeti price target raised to $38 from $36 at KeyBanc

KeyBanc raised the firm’s price target on Yeti to $38 from $36 and keeps an Underweight rating on the shares. While Yeti’s print checked most boxes, the continuation of more muted organic U.S. trends coupled with wholesale driving the top- and bottom-line beats did little to impact the firm’s view, the analyst tells investors in a research note. The higher guidance against a backdrop in which the consumer appears to be incrementally softening actually exacerbates the firm’s concerns, KeyBanc says.