Elanco price target lowered to $13 from $16 at BofA

BofA analyst Michael Ryskin lowered the firm’s price target on Elanco (ELAN) to $13 from $16 and keeps a Buy 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.