J.P. Morgan Reiterates Overweight Rating on Zoetis Following Prizer Share Exchange

In a report published Monday, J.P. Morgan analyst Chris Schott reiterated an Overweight rating and $39.00 price target on Zoetis ZTS.

In the report, J.P. Morgan noted, “Following the Pfizer share exchange making Zoetis a fully publicly-owned company, we wanted to revisit our thesis on the stock. Overall, the exchange does not alter our view on the company or the stock and we see Zoetis as a fairly unique asset within the healthcare space with a highly diversified portfolio, a significant emerging markets presence, and lack of third-party payer or generic exposure. Zoetis remains a clear leader within its industry and we believe the company is capable of generating sustainable mid-single digit top-line growth and low to mid-teens EPS growth. ZTS shares remain OW rated with a $39 price target.”

Zoetis closed on Friday at $30.17.