Canaccord views the departure of competitor Stanley’s president Terence Reilly to Crocs (CROX) as good news for Yeti (YETI). The Crocs hire is good news for Yeti as the company “has never experienced the competitive onslaught” that Stanley has brought since Yeti launched its drinkware business in 2014, the analyst tells investors in a research note. The firm says Stanley is now 73% the size of Yeti’s drinkware business, compared to 14% in 2019. It keeps a Hold rating on Yeti with a $40 price target.
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