Elanco price target raised to $13 from $12 at Stifel

Stifel analyst Jonathan Block raised the firm’s price target on Elanco to $13 from $12 and keeps a Hold rating on the shares. After having hosted meetings with Elanco’s senior management earlier this week, the analyst has a greater appreciation of 2024 year-over-year revenue growth potential, even absent the contribution from pending approvals, but views flattish EBITDA guidance as “a best-case scenario,” the analyst tells investors.