Baird analyst Peter Benedict raised the firm’s price target on Freshpet to $75 from $70 and keeps an Outperform rating on the shares. The analyst said while 4Q’s sales-fueled beat was largely trade inventory re-fill driven, Household penetration is improving and should further accelerate in 2023 given healthy in-stocks plus a significant increase in fridge space plus new innovation.
Published first on TheFly
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