Elanco price target lowered to $19 from $20 at Barclays

Barclays lowered the firm’s price target on Elanco (ELAN) to $19 from $20 and keeps an Overweight rating on the shares. The firm sees a “solid set-up” for Elanco’s 2025 despite currency headwinds, with the company’s innovation revenue guidance raised by $30M at mid-point on strength in Experior. The post-earnings selloff is a likely a function of limited near-term catalysts, the analyst tells investors in a research note.