Freshpet (FRPT) PT Raised to $126 at JPMorgan

JPMorgan analyst Ken Goldman raised the price target on Freshpet (NASDAQ: FRPT) to $126.00 (from $113.00) while maintaining a Neutral rating.

The analyst comments "Following earnings we remain Neutral on valuation but raise our estimates and establish a December 2025 price target of $126 (our prior 2024 target was $113). In our view, the story is directionally unchanged from before earnings: FRPT continues to take share of dog food while making dramatic improvements to margins (the adjusted GM will be +500 bps this year). But the speed of margin improvement continues to exceed both internal and external expectations (thanks to more efficient production lines and improvements to legacy supply chains). And cash flow continues to get better, as well. We’re not surprised that the stock is only outperforming by a couple hundred bps today – the buy side largely expected a beat – but if FRPT remains a beat-and-raise story with numbers consistently rising, then we don’t see why the shares can’t follow."

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