Credit Suisse Affirms Positive View on Zoetis (ZTS) Amid CFO Transition; Retains 'Outperform' Rating

August 23, 2016 7:26 AM EDT
Get Alerts ZTS Hot Sheet
Price: $53.97 +0.88%

Rating Summary:
    13 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Credit Suisse affirms Zoetis (NYSE: ZTS) at Outperform with a price target of $60 following news Monday of a new CFO appointment.

The firm commented, Our thesis remains ZTS's highly diverse portfolio, innovation, and increasing focus on faster-growing segments should continue to drive topline growth ahead of the industry. Importantly, cost structure initiatives in 2016 should set the stage for rebounding earnings growth in 2017 and beyond. With its shares (22.2x 2017 P/E) trading well below industry peers (26.9x), its valuation does not fully reflect substantial opportunities from new products, operational improvements, contributions from capital deployment initiatives, or its status as an industry leader in a robust and dynamic animal health sector.

For an analyst ratings summary and ratings history on Zoetis Inc. click here. For more ratings news on Zoetis Inc. click here.

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