Phibro Animal Health price target lowered to $18 from $22 at BofA

BofA lowered the firm’s price target on Phibro Animal Health (PAHC) to $18 from $22 and keeps an Underperform rating on the shares. Heading into Q1 earnings, the firm says sentiment on its animal health coverage “skews generally negative,” with a number of broader market and company-specific headwinds. The firm sees limited near-term catalysts to drive estimates higher beyond improved foreign exchange rates, so it thinks shares will remain capped near current levels, the analyst added in a preview for the group.