TD Cowen cuts Freshpet target, calls selloff overdone

TD Cowen lowered the firm’s price target on Freshpet (FRPT) to $141 from $174 and keeps a Buy rating on the shares post the Q4 report. Freshpet’s Q4 sales were a “bit light” and 2025 sales guidance of 21%-24% growth was below consensus, driving the stock down 18%, the analyst tells investors in a research note. The firm views investor concerns that the company’s growth will keep decelerating as an “overreaction to a transitory slump in the dog food category.” It thinks the stock can recover in the second half of 2025 as the category normalizes and Freshpet growth reaccelerates behind its new distribution and advertising.