Zoetis price target raised to $205 from $195 at Stifel

Stifel analyst Jonathan Block raised the firm’s price target on Zoetis to $205 from $195 and keeps a Buy rating on the shares. The firm’s inaugural work focused on Zoetis’ new canine OA pain mAb Librela, which was launched in International markets about 18-24 months before the U.S. with feedback from 58 Veterinarians in the U.K., Australia and Singapore was “exceptional,” with adoption rates, compliance, and future growth estimates “all surpassing our high expectations,” the analyst tells investors. Based on the diligence overseas, the firm has increased confidence in its Zoetis 2024 growth estimate, the analyst added.