Yeti price target lowered to $34 from $50 at Raymond James

Raymond James analyst Joseph Altobello lowered the firm’s price target on Yeti (YETI) to $34 from $50 and keeps an Outperform rating on the shares. Management has demonstrated a very solid record of execution as the company has developed into a high-quality consumer growth story, the analyst tells investors in a research note. While recent demand trends have been choppy and competition appears to be heating up, these risks are reflected in the stock, the firm says.