Zoetis initiated with a Buy at BTIG

BTIG initiated coverage of Zoetis with a Buy rating and $220 price target. Zoetis is the global market leader in animal health, focused on the discovery and commercialization of therapeutics, vaccines, and diagnostics, the analyst tells investors in a research note. The firm believes the company is well positioned to benefit from “several fundamental growth drivers” of an expanding global animal health market, higher standard of care for increasingly humanized pets, and the growing need for high-quality and affordable protein sources. BTIG says Zoetis leverages a diverse portfolio spanning therapeutics and diagnostics, and has a track record of creating billion-dollar portfolio franchises.