In a report published Thursday, Morgan Stanley analyst David Risinger reiterated an Equal-Weight rating and $19.00 price target onPhibro Animal Health Corp.
. In the report, Morgan Stanley noted, “F3Q sales and EBITDA were as expected; EPS was above due to IPO/refinancing pro forma adjustments and taxes. Revenues were $173M, in-line with our $173M. EPS was $0.36 (included pro forma adjustments for the IPO and refinancing, p. 3), 58% above our $0.23 (did not include IPO and refinancing effects). Excluding these adjustments, we calculate the EPS would have been $0.28, 25% above our $0.23, mainly due to the recognition of certain previously unrecognized tax benefits of $1,593.” Phibro Animal Health Corp. closed on Wednesday at $17.91.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.