Buy SharkNinja, Yeti Following Overblown Tariff Worries, Jefferies Says -- Market Talk

Dow Jones11-07

1341 ET - SharkNinja and Yeti Holdings fall on fears of potential tariffs following Trump's victory, but those risks are overblown, say analysts at Jefferies in a research note. Investors appear concerned about potential pressures on costs of goods sold and margins due to the potential for increased tariffs, the analysts say. But SharkNinja has a majority of its US-bound product manufacturing outside of China and expects to have it fully moved by the end of FY25, according to Jefferies. Yeti, meanwhile, has moved its soft coolers and bags out of China and has been diversifying its drinkware business since FY23, they add. "We would aggressively buy each stock, and estimate both YETI and SharkNinja shares have the potential to increase by more than 50%," say the analysts. Yeti is down 6.2%, while SharkNinja retreats 2.8%. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

November 06, 2024 13:42 ET (18:42 GMT)

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