Freshpet downgraded to Perform from Outperform at Oppenheimer

Oppenheimer analyst Rupesh Parikh downgraded Freshpet (FRPT) to Perform from Outperform without a price target The firm says that following the company’s “disappointing” guidance at CAGNY Conference, “more subdued” commentary from management lately, and a slowdown to start the year, investors should await signs of sales stabilization “before playing for a potential reacceleration trade.” In a “risk-off backdrop,” it is harder to call a bottom in Freshpet shares, the analyst tells investors in a research note. As such, Oppenheimer views the stock’s risk/reward as balanced.