Freshpet (FRPT) PT Raised to $189 at DA Davidson

DA Davidson analyst Brian Holland raised the price target on Freshpet (NASDAQ: FRPT) to $189.00 (from $183.00) while maintaining a Buy rating.

The analyst comments "We reiterate our BUY rating and best idea distinction on FRPT, increasing estimates (see below) and raising our price target to $189, despite stepping down on forward assumptions. The company is already overdelivering against its FY27 inputs / quality / logistics targets; however, we believe the business is early days in identifying / realizing operating efficiencies that could ultimately raise its gross margin ceiling. Importantly, this progress should yield sufficient operating cash flow to eliminate the likelihood of future capital raises, and could also make it such that out year capacity needs would be self funded without adding debt."

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