Zoetis price target lowered to $170 from $189 at UBS

UBS analyst Andrea Alfonso lowered the firm’s price target on Zoetis (ZTS) to $170 from $189 and keeps a Neutral rating on the shares. Mixed results from marquee products are likely to weigh on sentiment in the near-term, the analyst tells investors in a research note. The stable top-line outlook is not thesis changing, but the Q1 weakness in high-growth product categories will warrant added reassurance that the company can the sustain top-line outlook until innovation reinvigorates the top-line, UBS says.