Citi analyst Wendy Nicholson reiterated a Sell rating and $184.00 price target on Freshpet (NASDAQ: FRPT).

The analyst comments "We believe FRPT deserves to trade at ~13x FY21 sales, given the significant near-term investments the company needs to make to fund its long-term growth agenda (which represents a sharp premium to the 6x TTM sales GIS paid for BUFF in 2018). Given our FY21 sales estimate of $431 mm, we derive a target price of $123."

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 $184.82 yesterday.