UPDATE: Morgan Stanley Upgrades Zoetis on Global Leader Position, Positive Outlook
In a report published Friday, Morgan Stanley analyst David Risinger upgraded the rating on Zoetis (NYSE: ZTS) from Equal-Weight to Overweight, and named a $36.00 price target.
In the report, Morgan Stanley noted, “Zoetis is a global leader in animal health, and we expect mgmt. to deliver mid-teens EPS growth over the next several years. We view ZTS as a compelling alternative to traditional pharma. We believe accelerating revenue growth in 2014E should drive stock outperformance. We see an attractive risk-reward, and we believe lack of exposure to binary events limits downside risk.”
Zoetis closed on Thursday at $31.48.
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