Freshpet (FRPT) PT Raised to 'Street High' $144 at Jefferies on Superior Industry Growth

Jefferies analyst Ashley Helgans raised the price target on Freshpet (NASDAQ: FRPT) to a 'Street High' $144.00 (from $118.00) while maintaining a Buy rating after highlighting that the global pet care industry tallies $131B and they estimates 7% CAGR 2020-25. It was also highlighted that a survey showed 33% of owners indicated they have gotten a new pet since the onset of COVID-19.

The analyst commented, "We remain bullish on FRPT's growth trajectory and increased HH penetration targets. We expect FRPT to continue to win new distribution, as sales velocity continues to outpace distribution gains and FRPT offers category-leading margins."

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