TD Cowen upgraded Freshpet (FRPT) to Buy from Hold with an unchanged price target of $80. The firm says the company’s competitive threats “lack teeth.” Freshpet’s year-to-date retail sales growth of 13% is better than expected and the company’s 7%-10% outlook, the analyst tells investors in a research note. TD believes concerns about increased competition from Costco’s new private label entry and Farmer’s Dog expansion on Walmart.com will prove overdone. Freshpet has “sufficient scale and competitive advantages to withstand threats like these,” the firm contends.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FRPT:
- Costco March Sales to Climb, But Analysts Stay Split on COST Stock — Here’s Why
- Freshpet price target lowered to $62 from $69 at Deutsche Bank
- Costco (COST) Growth Push Puts Heat on Celsius and Freshpet Stocks
- Freshpet designated as a bullish Fresh Pick at Baird
- Freshpet price target lowered to $66 from $80 at JPMorgan