Elanco price target lowered to $18 from $20 at Stifel

Stifel lowered the firm’s price target on Elanco (ELAN) to $18 from $20 and keeps a Buy rating on the shares. The firm’s thesis remains that in 2026 and beyond, EBITDA growth will outstrip revenue growth and EPS will grow faster than EBITDA, telling investors that Elanco “offers the best risk/reward among our Animal Health names.”