Jefferies downgraded Freshpet (FRPT) to Hold from Buy with a price target of $53, down from $97. The firm cites the company’s “abrupt and persistent” growth slowdown, tough compares for nine months, and the lack of a near-term catalysts for the downgrade. Freshpet’s slowing household penetration gains and low-single-digit velocity declines add risk to the story, the analyst tells investors in a research note.
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