Elanco price target lowered to $14 from $15 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Elanco (ELAN) to $14 from $15 and keeps an Equal Weight rating on the shares. After having met with several Animal Health management teams at VMX, the world’s largest companion animal health conference, the analyst tells investors that “sentiment was cautious into 2025” on low compliance and deteriorating vet office visit trends. In light of foreign exchange dynamics and “a continuing lackluster vet visit backdrop,” the firm is trimming estimates and price targets for Zoetis (ZTS), Idexx (IDXX) and Elanco.