Fly News Breaks for January 15, 2020
Jan 15, 2020 | 07:16 EDT
Credit Suisse analyst Robert Moskow raised his price target for Freshpet to $68 from $58 following the company's "highly bullish" presentation at the ICR conference, with management indicating that its sales in Q4 came in stronger than expected primarily due to distribution gains. In addition, it confirmed its intention to pull forward its capacity expansion plans and increase its advertising spending in 2020 in the U.S. and the U.K. to maintain an above-algorithm sales growth rate in 2020, he notes. The analyst has a Neutral rating on the shares.
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