Yeti price target lowered to $45 from $50 at BofA

BofA lowered the firm’s price target on Yeti to $45 from $50 and keeps a Neutral rating on the shares. Amazon Prime Day supported Q3 results and drove gross margin upside, but the firm lowered its Q4 EPS estimate on a more cautious revenue outlook. The company’s long-term strategy is supported by product and international expansion, but BofA believes Yeti could see continued pressure in a more difficult macro environment with increased competition, especially in drinkware.