Zoetis price target raised to $225 from $220 at BTIG

BTIG raised the firm’s price target on Zoetis to $225 from $220 and keeps a Buy rating on the shares. The analyst cites the company’s Q2 earnings beat and guidance raise, along with the authorization of a new $6B share repurchase program for a period of up to 4 years, which was larger than the $3.5BB expected to be completed later this year. While there are investor concerns about softer than normal vet clinic visits, Zoetis has proven to be immune to these impacts on the back of new products, a highly diversified product portfolio and benefit from growth of alternative channels, the firm tells investors in a research note.