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Benzinga

Business

Shivani Kumaresan

Goldman Sachs Sees 34% Upside On This Pet Food Company

Goldman Sachs Freshpet FRPT Nasdaq

Goldman Sachs analyst Jason English upgraded Freshpet Inc (NASDAQ:FRPT) to Buy from Neutral with a price target of $136, up from $111, implying a 33.91% upside.
The analyst thinks that the entry point on Freshpet shares looks even more compelling, given the stock's recent negative re-rating that brought down its enterprise value to expected sales multiple to 6.9-times from 12.9-times.
The company's FY22 sales outlook stands at $575 million, up ~35% from FY21.
Price Action: FRPT shares are trading higher by 2.16% at $103.75 in premarket on the last check Wednesday.

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