Yeti slips as Piper Sandler slashes PT on discretionary spending weakness

YETI Holdings

12/10/2022 15:35

** Shares of Yeti Holdings Inc  YETI.N  slip 1.4% to $30
after Piper Sandler chopped the coolers and drinkware maker's PT
to $48 from $76
    ** Brokerage cites weakness in big ticket discretionary
items and macroeconomy; warns of flattening sales growth in FY
23 
    ** Net second-quarter sales growth fell to 17.4% from 44.8%
a year earlier 
    ** Reduces FY22 EPS estimate to $2.31 from $2.41 and FY23
EPS estimate to $2.42 from $3.03
    ** CFO Paul Carbone to exit effective Oct 28, the company
said last month  urn:newsml:reuters.com:*:nL4N30U24M
    ** 10 of 15 brokerages rate the stock "buy" or higher, 5
"hold"; median PT is $51.50 - Refinitiv IBES 
    ** Including session moves, shares down 64% YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))