Elanco price target raised to $11 from $9.50 at Leerink

Leerink analyst Daniel Clark raised the firm’s price target on Elanco (ELAN) to $11 from $9.50 and keeps a Market Perform rating on the shares. The firm says the company’s quarter was solid, and its exposure to tariffs was less than many feared. These two factors vs. bearish positioning are likely driving a bit of a squeeze in shares today. The updated guide appears prudent to Leerink, factoring in potential downside from pharmaceutical tariffs as well as the full impact of China tariffs at current rates, net of mitigation efforts. Ultimately, Elanco continues to be a second half of 2025 and 2026 growth story, the firm argues.