Freshpet price target lowered to $140 from $170 at Truist

Truist lowered the firm’s price target on Freshpet (FRPT) to $140 from $170 but keeps a Buy rating on the shares after its Q4 earnings miss and Q&A with its management. The company has seen a slowdown in pet food category over the past few months which factored into its decision to not raise the 2027 goal, though its forecast will prove conservative, the analyst tells investors in a research note. Truist adds however that Freshpet has managed the business to avoid supply chain constraints by moderating A&P spend over the past few years, and the firm does not see meaningful sales outperformance in 2025 for the same reason.