Zoetis Inc. (ZTS) PT Raised to $175 at Cowen

Cowen analyst Steve Scala raised the price target on Zoetis Inc. (NYSE: ZTS) to $175.00 (from $150.00) while maintaining an Outperform rating.

The analyst commented, "Post Q2 results, we updated our model; both revenue and EPS estimates have increased reflecting quicker-than-expected recovery in companion animal trends. We maintain our Outperform rating given ZTS' leading position in the attractive animal health market, with upside potential as pandemic pressures ultimately wane and new product momentum progresses. Our new PT is $175, 44x 2021E EPS."

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