Deutsche Bank Starts Freshpet (FRPT) at Buy

Deutsche Bank analyst Stephen Powers initiates coverage on Freshpet (NASDAQ: FRPT) with a Buy rating and a price target of $150.00.

The analyst comments "Despite strong recent share price performance (~+45% YTD, ~+95% last 12 months), we still see multiple structural tailwinds underpinning the FRPT bull case long-term. Contributing nearly 15% to tracked channel category growth over the past year (and nearly 10% over the past 5 years), we see a clear/credible pathway to controlled ~+25% growth annually through FY27—growth that in turn should result in scale, improved operational efficiency, rapidly inflecting profits, and positive FCF (hopefully ahead of schedule). All of this should, in our view, result in continued stock price appreciation and enhanced attractiveness as a target for potential strategic buyers. We thus initiate with a Buy rating and $150 price target."

For an analyst ratings summary and ratings history on Freshpet click here. For more ratings news on Freshpet click here.

Shares of Freshpet closed at $125.04 yesterday.

You May Also Be Interested In

• Deutsche Bank Downgrades Workday (WDAY) to Hold
• argenx SE (ARGX) PT Raised to $1,353 at TD Cowen
• Freedom Broker Upgrades PrimeEnergy Resource (PNRG) to Hold