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Fly News Breaks for January 10, 2019
YETI
Jan 10, 2019 | 08:44 EDT
Jefferies analyst Randal Konik says his firm's survey of 350 consumers across the U.S. found that Yeti's brand strength is "robust" with greater than 80% of respondents familiar with the brand. The 2018 Holiday season was one of the strongest in years, and results show Yeti products made popular Holiday gifts, Konik tells investors in a research note. He points out that nearly half of the survey's respondents intended to gift a Yeti product this Holiday. Further, he sees "significant opportunity" for the company to expand its total addressable market as it broadens its exposure to non-heritage markets in the U.S. and international over the long term. The analyst keeps a Buy rating on Yeti with a $34 price target.
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