Yeti price target lowered to $38 from $41 at TD Cowen

TD Cowen lowered the firm’s price target on Yeti to $38 from $41 and keeps a Market Perform rating on the shares. While Yeti is an authentic American outdoor brand, it maintains the highest exposure to China sourcing as any company TD covers, which could be a headwind into the election and escalation of tariffs, the analyst tells investors in a research note. The firm believes the stock’s multiples will likely remain under pressures until North America can show growth acceleration.