Elanco price target lowered to $14 from $18 at Barclays

Barclays lowered the firm’s price target on Elanco to $14 from $18 and keeps an Equal Weight rating on the shares post the Q4 results. The analyst does not see much more downside in the shares and expects a near-term rebound. However, a more constructive stance hinges on a compelling 2024 outlook, EBITDA and execution, which "still seems distance," the analyst tells investors in a research note.