Zoetis price target raised to $242 from $230 at Barclays

Barclays analyst Balaji Prasad raised the firm’s price target on Zoetis to $242 from $230 and keeps an Overweight rating on the shares. The company’s Q2 Q2 was “organically distraction-less,” with all key franchises delivering strong growth, the analyst tells investors in a research note. The firm says earnings growth, and not multiple expansion, should sustain the company’s stock momentum.