Freshpet price target raised to $98 from $80 at DA Davidson

DA Davidson raised the firm’s price target on Freshpet (FRPT) to $98 from $80 and keeps a Buy rating on the shares after its Q4 earnings beat. Below the top line, the company’s long underappreciated manufacturing moat invites multiple pathways to meaningful margin expansion, the analyst tells investors in a research note. DA Davidson adds that the firm is “mindful of slowing growth and increased competition across Food”, though it values the company’s competitive advantage and upside levers.