Leerink Partners analyst Daniel Clark reiterated a Buy rating on Zoetis (ZTS – Research Report) on February 4 and set a price target of $205.00.
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Daniel Clark’s rating is based on several factors that highlight the positive outlook for Zoetis. The recent update to Librela’s label, which notably did not include a black box warning, is a significant factor in maintaining a favorable view on the company’s prospects. This absence of a black box warning alleviates potential concerns that could have negatively impacted both US and international markets, thus supporting the stock’s performance outlook.
Despite the label update mentioning adverse events associated with Librela, the overall sentiment from veterinary checks indicates strong support for the drug’s efficacy in treating canine osteoarthritis pain. The potential for improved patient compliance and increased use in milder cases suggests positive growth trajectories for Librela. These factors collectively contribute to maintaining an optimistic long-term perspective on Zoetis’s market performance, justifying the Buy rating.
According to TipRanks, Clark is a 2-star analyst with an average return of 5.5% and an 80.00% success rate. Clark covers the Healthcare sector, focusing on stocks such as Zoetis, Idexx Laboratories, and Elanco Animal Health.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $242.00 price target.