Jennifer Garner's company could see its stock price rise by 50%: Freedom has identified unaccounted-for growth drivers

Shares of Once Upon a Farm, a small-cap producer of organic baby food and snacks for teens—co-founded by actress Jennifer Garner—should be trading at a 50% premium to their current price, according to a valuation by Freedom Broker. Analysts explain that the expansion of distribution and product offerings should lead to sales growth, which, in turn, will have a positive impact on the company’s profit margins.

Freedom Broker has initiated coverage of Once Upon a Farm shares; the company was co-founded by Jennifer Garner, the actress known for her roles in *The Dallas Buyers Club* and *Pearl Harbor*. Analysts recommended buying the company’s stock, according to an investment note (available to Oninvest). Freedom’s target price is $25.50—50.5% higher than the stock’s closing price on October 9.

Analysts believe that the current stock price does not reflect Once Upon a Farm's sales growth potential, nor the fact that, after 2026, the company's profits are expected to grow faster than its revenue.

Expanding distribution is one of the main drivers of Once Upon a Farm’s growth, according to the investor note. By the end of the second quarter, the company had approximately 4,100 branded refrigerators in retail stores.

The manufacturer had been experimenting with their placement since the late 2010s but encountered a number of challenges and did not achieve the desired results, said Marketing Director Cathie Marston. Some of the products were placed in the dairy section, while others were among the many baby food brands, which hindered their visibility on the shelves. The company’s own website states that its products can be found in six different sections, depending on the store.

Once Upon a Farm’s display cases are now located in the baby food aisles, which allows the company to “introduce customers to the brand” earlier, according to the manufacturer’s top executives during a conference call to discuss the results of the second quarter of 2026. At that time, the company reported a 42.3% year-over-year increase in net sales to $85.4 million.

In addition, Once Upon a Farm was able to determine the optimal range of refrigerators this year, which has led to “an increase in efficiency,” according to top executives.

By the end of this year, the company plans to increase the number of units to 5,000, and to 8,000 by 2027. Freedom estimates that by 2030, the number of display cases could reach approximately 14,600.

Another growth driver cited by Freedom is the increase in the share of children’s products in the company’s net sales. This means that more and more families will start buying Once Upon a Farm earlier, starting in infancy, and the company will be able to retain them until they graduate from school, according to the investor note.

Analysts also believe that after 2026, profit growth should outpace sales growth thanks to cost cuts and the discontinuation of the club sales program, which had a negative impact on gross profit in the second quarter.

Among the risks to its business, Freedom cites reduced refrigerator performance, failure to comply with food safety requirements, and lower-than-expected operational efficiency.

Once Upon a Farm went public on the New York Stock Exchange as recently as February 2026. Since then, its stock price has fallen by 19%. However, Wall Street generally views the company’s prospects positively: its stock has six “buy” recommendations from analysts, while four others advise holding the stock. The average price target is $25.2, which is 49% higher than the most recent closing price.