Phibro Animal Health (PAHC): Raising PT - Guggenheim
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Guggenheim analyst, Brandon Folkes, reiterated his Buy rating on shares of Phibro Animal Health Corp. (NASDAQ: PAHC) and raised his price target to $30 from $26 on multiple expansion.
The analyst stated "we expect the headwinds from medically important antibiotics to subside in F2H17 post the deadline for compliance with the antibiotic regulations, and we believe the negative sentiment driven by consumer preference that caused a move away from antibiotic use in the U.S. has overshadowed an important growth driver in the PAHC business model: growth in the demand for PAHC’s products driven by the need for more efficient protein production in developing markets".
No definitive catalysts were highlighted in the note.
Shares of Phibro Animal Health Corp. closed at $25.83 yesterday.
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