Freshpet initiated with a Hold at Jefferies

Jefferies initiated coverage of Freshpet with a Hold rating and $80 price target. Freshpet is the fresh/frozen pet food leader and favorable customer metrics outline the opportunity, but tight capacity consumes cash, limiting upside, the analyst tells investors. The firm would await a better entry point with shares trading at the top-end of its “high-growth/disruptors valuation basket,” the analyst added.