Yeti price target lowered to $49 from $58 at Canaccord

Canaccord lowered the firm’s price target on Yeti to $49 from $58 and keeps a Buy rating on the shares. The firm said full year guidance was adjusted to the lower end of the prior range on sales and the higher end of the prior range on adjusted EPS and while thet still expect good growth in 2024E, their estimates are tempered as they believe it will be a tougher year for consumer discretionary companies to grow given the macro environment.