Freshpet, Inc. shares fall 2.94% intraday after Truist cuts price target to $70.

Freshpet, Inc. declined 2.94% in intraday trading. The drop in stock price may be attributed to Truist cutting its price target on Freshpet to $70 from $80. The report highlights the company's operations in the pet care and garden products markets, which are growing due to strong secular trends such as the humanization of pets and the shift to digital commerce. However, the price target reduction by Truist suggests a bearish outlook on the stock's future performance.