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Fly News Breaks for March 3, 2020
YETI
Mar 3, 2020 | 06:10 EDT
Citi analyst Wendy Nicholson upgraded Yeti to Buy from Neutral with a price target of $37, down from $39. The stock has pulled back 15% year-to-date, but with 96% of its sales in the U.S., Yeti's growth outlook this year should not see any material weakness from the coronavirus, Nicholson tells investors in a research note. Further, with the company having sufficient inventory in place given its plans for tariff mitigation, it should not face meaningful supply chain issues from the virus, adds the analyst. As such, Nicholson views the recent selloff in Yeti shares as overdone.