Jefferies consumer survey shows 'robust' brand strength for Yeti
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.