Freshpet price target lowered to $63 from $72 at TD Cowen

TD Cowen lowered the firm’s price target on Freshpet (FRPT) to $63 from $72 and keeps a Hold rating on the shares. The firm says its regression analysis as well as Freshpet’s increasing competition indicates more growth deceleration ahead. TD reduced the company’s Q4 sales growth estimate for 10%, below the consensus of 13%. TD’s regression analysis indicates the brand is still growing, but at a slower pace on a sequential basis than in prior years, the analyst tells investors in a research note.