Morgan Stanley raised the firm’s price target on Phibro Animal Health (PAHC) to $26 from $21 and keeps an Equal Weight rating on the shares. The firm updated its model and price target as its “conviction grows” on better Zoetis MFA portfolio deal integration, the analyst tells investors. A potential inflection in the cattle herd cycle in coming years could also be a tailwind with now greater exposure to the species category, the firm added.
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