Freshpet price target lowered to $120 from $140 at Benchmark

Benchmark lowered the firm’s price target on Freshpet (FRPT) to $120 from $140 and keeps a Buy rating on the shares. Q1 operating results came in slightly better than consensus on May 5, but management is projecting the current consumer situation continues through all of FY25 in its new guidance. The company is lowering revenue growth guidance to 15%-18% and AEBITDA guidance to $190M-$210M, notes the analyst, who would “applaud the conservative approach” given what we currently know about the consumer.