Freshpet upgraded to Buy from Hold at Jefferies

Jefferies upgraded Freshpet (FRPT) to Buy from Hold with a price target of $150, down from $155. The shares are down 32% this year despite the company’s “strong Q4 results and a promising outlook,” the analyst tells investors in a research note. The firm says Freshpet’s drivers like pet premiumization remain strong while the overall pet industry is improving. The company’s sales should compound 23% to 2027, while expanding margins, which is a “rare combination,” contends Jefferies. The firm thinks Freshpet shares are worth 50% above where it is trading.