KeyBanc starts Zoetis at Sector Weight on product launch headwinds, competition

KeyBanc analyst Steve Dechert initiated coverage of Zoetis (ZTS) with a Sector Weight rating. The firm is citing continued headwinds from the launch of the company’s OA pain mAb products and increased competition in key franchises, the analyst tells investors in a research note. While KeyBanc recognizes Zoetis’s history of excellence in developing innovative products, the firm sees shares as being fairly valued while it awaits new innovative product launches.