Freshpet price target lowered to $83 from $101 at DA Davidson

DA Davidson analyst Brian Holland lowered the firm’s price target on Freshpet (FRPT) to $83 from $101 but keeps a Buy rating on the shares after its Q3 results and FY25 EBITDA outlook narrowed lower. The firm maintains that after a rough last-twelve-months, there are reasons to believe the all important net sales trajectory could stabilize from here, which in the intermediate to long term should bring attention to the ongoing margin and free cash flow inflections, the analyst tells investors in a research note. The combination of customer adoption and competitor execution also increases the likelihood Freshpet is “ultimately a takeout target”, the firm added.