Freshpet price target raised to $115 from $100 at Oppenheimer

Oppenheimer analyst Rupesh Parikh raised the firm’s price target on Freshpet to $115 from $100 and keeps an Outperform rating on the shares. Ahead of the Q4 results on February 26, Oppenheimer expects focus to primarily shift toward FY24 guidance, and believes there will be conservatism with the initial outlook, the analyst tells investors in a research note. Management could introduce adjusted EBITDA guidance of greater than $90M, below the Street projection of $100M, but Oppenheimer continue to believe the Street’s $100M is realistic and achievable for the full year.