Freshpet price target lowered to $135 from $155 at Stifel

Stifel lowered the firm’s price target on Freshpet (FRPT) to $135 from $155 and keeps a Buy rating on the shares after having hosted meetings with Freshpet’s CEO Billy Cyr, CFO Todd Cunfer and VP of IR Rachel Ulsh at the firm’s Jackson Hole Consumer Ski Summit. The firm reduced its 2025 sales estimates to the low-end of guidance, but notes that management remains confident that sales growth will accelerate through 2025 as increasing media spending aids household penetration and second half comparisons “favorable.”