KeyBanc lowers Yeti stock price target to $49 on guidance cut

KeyBanc lowered its price target for Yeti Holdings Inc. to $49 from $57, while keeping an Overweight rating on the stock. The outdoor products company reported mixed results and revised its guidance, leading to a 14.8% drop in the stock price over the past week. Shares fell from $42.79 to $38.30. Despite reiterating its guidance at a September 17 investor day, Yeti's stock continued to face pressure.

The analyst Noah Zatzkin remains optimistic about Yeti's long-term potential, citing the company's impressive gross profit margin. Yeti expects continued growth in line with its long-term algorithm for 2027, with anticipated revenue growth of mid-single to high-single digits year-over-year. The stock appears undervalued according to InvestingPro analysis.