Piper Sandler Reiterates Overweight Rating on Elanco Animal Health (ELAN)

Piper Sandler analyst David Westenberg reiterated an Overweight rating and $30.00 price target on Elanco Animal Health (NYSE: ELAN).

The analyst commented: "The Shield to Save You from the Puppy Apocalypse; We reiterate our Overweight rating on Elanco, viewing it as more of a defensive play in the animal health sector. While the U.S. veterinary market faces a structural headwind from declining puppy visit volumes (a trend we expect to persist), we believe Elanco is uniquely positioned to weather this volatility. Unlike peers with heavy U.S. companion animal concentration, Elanco has diversified exposure to farm animal, OTC products, and international pet health. As the market continues to fixate on U.S. "Puppocalypse" headwinds, we believe Elanco’s global, multi-pillar growth story offers a compelling riskreward profile insulated from domestic discretionary pet spending."

For an analyst ratings summary and ratings history on Elanco Animal Health click here. For more ratings news on Elanco Animal Health click here.

Shares of Elanco Animal Health closed at $24.57 yesterday.

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