Freshpet at over 2-1/2 year low after BofA cuts rating and price target

Freshpet

08/10/2025 15:10

Updates

** Shares in Freshpet FRPT.O down about 7% at $49.14 - lowest since March 2023

** BofA Global Research cuts stock's rating to "neutral" from "buy", price objective to $60 from $81

** Brokerage cuts Q3 net sales growth estimate, expects FRPT to log annual net sales growth at lower end of guided range

** Co maintains annual outlook after bell on Tuesday, announced CFO Todd Cunfer's move to Campbell's Co CPB.O

** Names Ivan Garcia as interim finance boss

** 17 brokerages on average rate the stock "buy"; their median PT is $89 - LSEG data

** Including early losses, stock down ~66% so far this year vs ~18% gain on Nasdaq .IXIC

** FRPT's share price slump has come against a backdrop of weak demand for pet food as consumers have constrained budgets amid inflation and the impact of tariffs on the broader economy

 (Reporting by Prerna Bedi in Bengaluru)

 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))