Roth MKM analyst Brian Wright lowered the firm’s price target on Phibro Animal Health to $13 from $21 and keeps a Buy rating on the shares. The company reported a “disappointing” Q1 and also cut its FY24 guidance amid continued weakness in Mineral Nutrition and Performance Products, the analyst tells investors in a research note. The guidance cut also reflects the challenges in dairy in the U.S. and China, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PAHC:
- Phibro Animal Health price target lowered to $10 from $17 at Barclays
- Phibro Animal Health cuts FY24 EPS view to $1.04-$1.16 from $1.12-$1.27
- Phibro Animal Health reports Q1 adjusted EPS 14c, consensus 23c
- Phibro ‘extremely disappointed’ in actions taken by FDA, to defend Mecadox use
- PAHC Earnings this Week: How Will it Perform?