YETI (YETI) is likely to report Q4 earnings that fall short of analyst estimates when the results are unveiled before the opening bell on Thursday, UBS said in an earnings preview.

The firm said Friday it was forecasting Q4 earnings of $0.91 per share for the outdoor products retailer, below the $0.93 consensus of analysts polled by FactSet.

UBS also said sentiment around the stock remains "mixed" as investors are concerned about the impact of tariffs on YETI's bottom line despite its current valuation which offers an "attractive entry point." While the company's management is prioritizing steps to minimize the impact of any tariffs, visibility remains limited given the many moving pieces, UBS said.

The firm said it views the company's valuation alone as not being a meaningful catalyst and that it would remain on the sidelines until there's greater clarity on the company's top and bottom line trajectory.

For 2025, UBS said it was currently estimating net sales growth of 7.4% - in-line with estimates - as well as full-year EPS of $2.90, also in-line with consensus estimates.

UBS has a neutral rating on the stock with a $43 price target.

YETI shares were down 3.1% in recent trading.

Price: 36.23, Change: -1.16, Percent Change: -3.10