DA Davidson Reiterates Buy Rating on Freshpet (FRPT): Buy on weakness following Costco news

DA Davidson analyst Brian Holland reiterated a Buy rating and $98.00 price target on Freshpet (NASDAQ: FRPT)

The analyst commented, "We reiterate FRPT-BUY ($98 PT) on weakness, following news Costco is introducing a private label refrigerated offering. At first blush, our view is 1) the Kirkland value proposition is not terribly compelling 2) the product would have to make a big dent to have even a modest impact on numbers 3) Costco evolution towards larger open air chillers could prove a bigger tailwind for FRPT than any potential private label headwind. We appreciate investor anxiety around such headlines, especially given slowing demand / increasing competition across Food; however, not all competition is created equal."

For an analyst ratings summary and ratings history on Freshpet click here. For more ratings news on Freshpet click here.

Shares of Freshpet closed at $67.42 yesterday.

You May Also Be Interested In

• Tesla Crash Into Texas Home Now Under Federal Safety Probe - WSJ
• A.O. Smith executive chairman to retire, CEO to assume chairman role
• ZenaTech raises Plurilock Security stake to 12% with new share purchase