Freshpet's Q2 Performance: Analyst Uplifts Price Target And Forecasts Strong Volume Growth
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Bill Chappell has reiterated the Hold rating on Freshpet, Inc. (NASDAQ:FRPT), raising the price target to $80 from $55. This follows Freshpet's Q2 FY23 sales growth of 25% YoY to $183.30 million, which missed the analyst consensus estimate of $185.75 million. The company expects FY23 adjusted EBITDA of at least $55 million and capital expenditures of about $240 million. Chappell raised FY23 EBITDA estimates from $50 million to $57 million and FY24 EBITDA estimates from $91 million to $98 million.
August 08, 2023 | 6:50 pm
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NEUTRAL IMPACT
Freshpet's Q2 FY23 sales growth of 25% YoY missed the analyst consensus estimate, but the company's price target was raised by Truist Securities analyst Bill Chappell to $80 from $55. The company expects FY23 adjusted EBITDA of at least $55 million.
Despite missing the analyst consensus estimate for Q2 FY23 sales, Freshpet's price target was raised by Truist Securities analyst Bill Chappell. This indicates a positive outlook for the company's financial performance, which could potentially influence investor sentiment and the company's stock price. However, the company's shares are currently trading lower, indicating a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100