Freshpet price target lowered to $115 from $141 at TD Cowen

TD Cowen lowered the firm’s price target on Freshpet (FRPT) to $115 from $141 and keeps a Buy rating on the shares. The firm reduced sales and profit estimates to the low end of the company’s fiscal 2025 guidance, including below the range results in Q1. Demand in the brand’s low-to-middle income cohort has weakened, and it had out-of-stocks in pet specialty from disruptions at a new distribution partner, the analyst tells investors in a research note. TD expects sequential improvement in Q2 as Freshpet pivots its marketing strategy and pet specialty distribution recovers.