Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Zoetis (NYSE: ZTS) today and set a price target of $98. The company’s shares opened today at $92.03, close to its 52-week high of $93.67.
Chen noted:
“We rate ZTS as 12-month price target of $98. We think the multiple will hold and upwards earnings revisions should drive shares higher. Valuation Summary We use a blend of DCF and multiples analysis (EV/EBITDA) to get to our 12-month price target of $98. The Disclosure Section may be found on pages 3 – 4.Valuation We use a blend of DCF and multiples analysis (EV/EBITDA) to get to our 12-month price target of $98.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 4.2% and a 39.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zoetis with a $96.25 average price target.
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The company has a one-year high of $93.67 and a one-year low of $63.03. Currently, Zoetis has an average volume of 2.2M.
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Zoetis, Inc. discovers, develops and manufactures a portfolio of animal health medicines and vaccines. Its products are complemented by diagnostic products, genetic tests, bio devices and services. These are designed to meet the needs of veterinarians and the livestock farmers and companion animal.
