UPDATE: Barclays Starts Covetrus (CVET) at Overweight

(Updated - February 17, 2021 4:58 AM EST)

Barclays analyst Balaji Prasad initiates coverage on Covetrus (NASDAQ: CVET) with a Overweight rating and a price target of $48.00.

The analyst highlights four reasons for the outlook: "1) Supported by strong fundamentals and market leadership in each of its segments: supply chain / practice mgmt / prescription management; 2) OUS strategy in place through cloud-based solutions and international rollout of Rx management (starting with UK, Australia /NZ); 3) Covetrus platform driving greater profitability; 4) Revenue/EBITDA CAGR of
6% / 11% over 2020-25E. Screen well on Investment Framework: Both IDXX & CVET check almost all the boxes in our investment framework."

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

Shares of Covetrus closed at $37.58 yesterday.

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