Benchmark reiterates Freshpet stock rating after management meeting

Investing.com reports that Benchmark analyst Todd Brooks has reaffirmed a Buy rating and $93.00 price target for Freshpet (NASDAQ:FRPT) after a management meeting. The stock is currently trading at $74.07, up 19.2% year-to-date, and is considered undervalued relative to its Fair Value by InvestingPro analysis. Benchmark CEO Billy Cyr and CFO John O’Connor discussed the company’s 20-year scale advantages in the fresh dog food category during a fireside chat with Benchmark StoneX clients.

These advantages include brick-and-mortar distribution, brand awareness, and a diverse product range at various price points. Benchmark also praised the company’s manufacturing technologies and product development capabilities. Freshpet posted a 12.8% revenue growth over the last year, with a market capitalization of $3.56 billion.

Maintaining its Best Idea designation, Benchmark kept the $93 price target. Freshpet recently reported strong Q2 2026 results, surpassing Wall Street forecasts with adjusted earnings of $0.39 per share and $305.6 million in revenue. The company also raised its full-year sales and profit outlook, reflecting robust demand and effective cost management.

Competitors responded with mixed ratings, with TD Cowen raising its price target to $85 and Piper Sandler maintaining an Overweight rating with an $87 target. Morgan Stanley, however, downgraded Freshpet to Equalweight with a $72 price target, citing valuation concerns and risks such as slowing household penetration growth and increasing competition.