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Freshpet Stock Tumbles Over 10% Amid Analyst Downgrade and Competitive Threats
Freshpet Stock Tumbles Over 10% Amid Analyst Downgrade and Competitive Threats
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BTCCSquare news:
Freshpet (FRPT) shares plunged more than 10% as TD Cowen analyst Robert Moskow slashed his price target to $63 from $72, maintaining a 'hold' rating. The downgrade reflects concerns over slowing sales growth, with Q4 revenue projections trimmed to 10% year-over-year—below the 13% consensus.
Competitive pressures intensified as a rival prepares to launch new marketing initiatives for its Blue Buffalo line and a premium brand, Edgard & Cooper. Moskow warned of potential further revisions depending on the impact of these moves. The stock's decline starkly outpaced the benchmark index's 0.4% dip.
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