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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:50 EDT
SunTrust analyst Bill Chappell raised his price target on Freshpet to $70 after its Investor Day presentation, saying the highlights of the discussion reflected the upsizing of the company's household penetration opportunity and the management's long-term advertising strategy intended to drive sales growth. The analyst still keeps his Hold rating on the stock, noting that its implied 7-times enterprise value to expected FY21 sales estimate multiple is at the high end of its high-growth Consumer Packaged Goods category peers.
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