Stifel analyst Jonathan Block lowered the firm’s price target on Elanco to $12 from $13 and keeps a Hold rating on the shares. The firm has identified a modest step-back in the Veterinarians’ 2023 practice revenue growth expectations and pet owner’s willingness to spend for an average wellness visit has stepped down sequentially, the analyst tells investors. However, product innovation appears robust and several offerings are poised to have a large impact in 2024 and 2025, the firm adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ELAN:
- Largest borrow rate increases among liquid names
- Elanco price target lowered to $11 from $13 at Piper Sandler
- Elanco ‘vulnerable to an activist,’ Dealreporter says
- Elanco announces process to amend corporate governing documents
- Elanco says first shipments of Varenzin-CA1 conditionally approved by FDA