Truist lowered the firm’s price target on Freshpet (FRPT) to $110 from $140 and keeps a Buy rating on the shares. The firm is adjusting the quarterly cadence of its sales and adjusted EBITDA estimates to account for more front-half weighted media spend, the analyst tells investors in a research note. Truist’s reduced price target on Freshpet also reflects the multiple compression seen across the high-growth CPG group, the firm added.
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Read More on FRPT:
- Freshpet price target lowered to $115 from $141 at TD Cowen
- Freshpet price target lowered to $145 from $160 at Piper Sandler
- Freshpet director buys $155K shares in common stock
- Spotify upgraded, Freshpet downgraded: Wall Street’s top analyst calls
- Freshpet downgraded to Perform from Outperform at Oppenheimer
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