Why Investors Thought Freshpet Stock Was a bad boy Today
The stock market in general traded listlessly on Tuesday, but the trajectory of Freshpet (NASDAQ: FRPT) shares was particularly uninspiring. On the back of an analyst's price-target cut, the next-generation pet care specialist's stock closed the day nearly 3% lower. By contrast, the bellwether S&P 500 index essentially traded sideways.Before market open that day, Piper Sandler prognosticator Michael Lavery reduced his fair value assessment on Freshpet to $145 per share. That was down from his previous price target of $160. Lavery left his recommendation intact, however, which was good news for company bulls as this is and was overweight (buy, in other words). At the current share price, this new level anticipates 68% potential upside for Freshpet.Continue reading
The stock market in general traded listlessly on Tuesday, but the trajectory of Freshpet (NASDAQ: FRPT) shares was particularly uninspiring. On the back of an analyst's price-target cut, the next-generation pet care specialist's stock closed the day nearly 3% lower. By contrast, the bellwether S&P 500 index essentially traded sideways.
Before market open that day, Piper Sandler prognosticator Michael Lavery reduced his fair value assessment on Freshpet to $145 per share. That was down from his previous price target of $160. Lavery left his recommendation intact, however, which was good news for company bulls as this is and was overweight (buy, in other words).
At the current share price, this new level anticipates 68% potential upside for Freshpet.
