BofA noted Freshpet (FRPT) shares are down intra-day off the news of The Farmer’s Dog’s first launch into retail. The firm told investors that the launch could cause potential share leakage given the distribution opportunity it provides. BofA added that two back-to-back competitor launches sparks concern around the company’s competitive moat. The firm maintained a Neutral rating and $80 price target on Freshpet stock.
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