Yeti’s Rally May Be Curbed by Fewer Commuters and No Tailgaters
- Goldman sees possible lackluster demand for insulated mugs
- Shares are up 175% since March on pandemic-fueled outdoor boom
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A lack of coffee-slurping commuters and beer-guzzling sports fans could threaten the virus-fueled rally of Yeti Holdings Inc., the maker of insulated mugs and costly coolers.
That’s one of Goldman Sachs’s concerns as the bank moved to the sidelines Tuesday following the stock’s 175% surge from a March low. While shares have priced in increased interest in outdoor fun by sun-starved shut ins, that enthusiasm may be tempered by the potential for “lackluster” demand for drinkware from on-the-go consumers, analyst Alexandra Walvis said.