Oppenheimer kept Freshpet ( NASDAQ: FRPT ) slotted as a top pick following the company's presentation at the ICR Conference.
Analyst Suraj Kalia and team walked away even more constructive on FRPT after hearing positive commentary on the total addressable market, Ennis ramp, 2023 fridge placements, and the innovation pipeline.
"The collective commentary appears consistent with our expectations for ~30% revenue growth in FY23. We await formal FY23 guidance in late February. We don’t see a straight move higher for shares but think FRPT likely outperforms in what is shaping up to be a difficult environment for 2023."
Freshpet ( FRPT ) also reiterated full-year 2022 sales and adjusted EBITDA guidance at ICR.
Shares of Freshpet ( FRPT ) opened with a 1.75% gain on Tuesday.
Read a recent breakdown on the potential 40% upside on Freshpet from the SA Pro Editors.
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Freshpet impresses Oppenheimer with ICR update