Bank of America Securities analyst Michael Ryskin maintained a Buy rating on Elanco Animal Health today and set a price target of $25.00.
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Michael Ryskin’s rating is based on a combination of factors that highlight Elanco Animal Health’s potential for future growth. The upcoming Investor Day is expected to provide valuable insights into the company’s long-term growth prospects, strategic priorities, and innovation pipeline. This event is particularly significant given the competitive nature of the Animal Health industry, which is being driven by company-specific innovations.
Ryskin maintains a Buy rating due to renewed confidence in Elanco’s revenue growth, supported by the introduction of new products and the strength across various segments. The anticipated mid-term revenue growth targets and expected EBITDA margin expansion are key considerations. Additionally, updates on the company’s pipeline, including new product announcements and regulatory timelines, as well as strategic initiatives like leverage reduction and capital allocation, are critical to understanding Elanco’s future performance.
In another report released on December 5, TD Cowen also maintained a Buy rating on the stock with a $24.00 price target.