Canaccord maintains $35 target on Yeti Holdings stock

On Monday, Canaccord Genuity maintained its Hold rating on Yeti Holdings Inc. (NYSE:YETI) with a steady price target of $35.00. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis, with analyst targets ranging from $32 to $55. The decision follows Yeti’s recent launch of its Gold Coast Collection on Friday, which features a new seasonal color scheme of Peach/Beekeeper. This collection is designed for extended outdoor activities and includes products such as the Hopper M12 and M20 Backpack Soft Cooler, the Sidekick Dry 1L and 3L Gear Case, the Camino 20 and 35 Carryall Tote Bag, and the Sideclick Strap.

Yeti Holdings Inc. is known for releasing several limited-edition colors annually to boost demand for its existing product lines. The recent frequency of color launches is slightly higher than in previous years but remains competitive within the industry. For instance, Stanley has introduced nine new colors, collections, or partnerships year-to-date (YTD), and Owala has released a total of 12. The strategy appears to be working, with YETI maintaining a healthy 58% gross margin and achieving 10% revenue growth over the last twelve months.

Canaccord Genuity acknowledged the potential upside indicated by their $35 price target for Yeti Holdings Inc. However, the firm has opted to maintain a Hold rating on the stock. This cautionary stance is influenced by several factors, including the current uncertainties surrounding tariffs, the intensity of competition in the market, and fluctuating consumer demand. These elements contribute to the firm’s perspective on the stock’s near-term prospects. While the stock has declined nearly 29% over the past six months, InvestingPro analysis reveals strong fundamentals with a "Good" financial health score and over 10 additional key insights available to subscribers.

In other recent news, Yeti Holdings Inc. has announced the addition of two new board members, J. Magnus Welander and Arne Arens, as part of a cooperation agreement with Engaged Capital. These appointments have been well-received, with analysts from Jefferies maintaining a Buy rating and a $55.00 price target, citing the strategic move as a step towards enhancing Yeti’s innovation and global expansion efforts. Citi also reiterated its Buy rating with a $47.00 price target, highlighting the board changes as a positive move for the company’s governance and strategic oversight.

Canaccord Genuity, however, maintained a Hold rating with a $42.00 price target, acknowledging the potential benefits of Engaged Capital’s involvement but expressing caution due to near-term uncertainties. Despite the general downturn in global web traffic for hydration brands, Yeti has managed to capture a larger share of the market, according to Citi’s analysis. The company’s website traffic showed a slight decline in the first quarter of 2025, yet Citi maintains a positive outlook on Yeti’s sales trends.

Jefferies noted Yeti’s strong brand and substantial cash flow as key factors supporting their Buy recommendation. Both Welander and Arens are expected to contribute valuable perspectives on consumer brands, aligning with Yeti’s growth and value objectives. These developments reflect Yeti’s ongoing efforts to strengthen its governance and strategic direction, aiming for long-term growth and enhanced shareholder value.

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