Freshpet (FRPT) PT Lowered to $145 at Piper Sandler as 'Mainstream Consumer Momentum Softens'

Piper Sandler analyst Michael Lavery lowered the price target on Freshpet (NASDAQ: FRPT) to $145.00 (from $160.00) while maintaining a Overweight rating.

The analyst commented: "Mainstream Consumer Momentum Softens; FRPT's revenue growth has slowed in recent weeks, driven by notably slower growth with lower and middle income consumers, which we expect to persist near-term. FRPT's HH penetration growth for this cohort is half the rate it was a year ago. Higher income consumers remain resilient, with HH penetration gains up mid-20s%. It also has some topline headwinds in 1Q25 from pet specialty distributor disruptions and one less shipping day (leap year). Its slower top-line momentum likely puts FRPT at the low end of its 2025 guidance. We lower our 2025E sales estimate from ~$1,200M to ~$1,180M, 2026E sales from ~$1,470M to ~$1,445M, and consequently our PT from $160 to $145."

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