Freshpet Stock Falls 9.1% Amid Competition Concerns and Slowing Growth

Freshpet (FRPT) shares fell 9.1% after TD Cowen reduced its price target to $63 from $72, citing increased competition from General Mills' entry into the fresh pet food market. The analyst cut Freshpet's fourth-quarter sales growth estimate to 10% from 13%. The stock closed at $56.29, down 10.1% from the previous close. Freshpet has a modest revenue base, history of burning through cash, and negative returns on capital, raising concerns over its long-term viability.