Freshpet price target lowered to $50 from $70 at Truist

Truist lowered the firm’s price target on Freshpet (FRPT) to $50 from $70 and keeps a Hold rating on the shares after its Q3 results and FY25 EBITDA outlook narrowed lower. Pet ownership trends are still normalizing following the COVID-era spike in pet adoptions, while the delayed recovery of the category has led to slow growth in the pet food category that will not begin to resolve until at least 2026, the analyst tells investors in a research note.