Yeti price target raised to $55 from $54 at Jefferies

Jefferies analyst Randal Konik raised the firm’s price target on Yeti to $55 from $54 and keeps a Buy rating on the shares after having analyzed web traffic to drinkware peers to better understand how Yeti has been impacted by new entrants. After a promotion-driven holiday growth period, traffic share to “TikTok viral Stanley” continues to normalize, while a stable and continued return to Yeti “remains apparent,” says the analyst, who contends that the market for drinkware is expanding as more consumers are made aware of hydration and that “all roads lead back to YETI.”