Yeti downgraded to Hold from Buy at Canaccord

Canaccord analyst Brian McNamara downgraded Yeti to Hold from Buy with a price target of $50, up from $49. The analyst believes the company performed well in Q4 despite emerging competitive pressures, but downgraded the shares as the firm finds the current risk/reward relatively balanced with the stock up 23% since the Q3 earnings report. In addition, competitor Stanley is a much larger player in drinkware than originally thought, the analyst tells investors in a research note.