Elanco Animal Health Incorporated (NYSE:ELAN) is one of the best pet stocks to buy according to hedge funds. On January 30, BofA raised the price target on Elanco Animal Health Incorporated (NYSE:ELAN) to $28 from $25 while maintaining a Buy rating on the shares. The firm told investors that it raised its price target on the stock heading into the fiscal Q4 earnings season to reflect stronger execution and operational results.
In another development, UBS raised the price target on Elanco Animal Health Incorporated (NYSE:ELAN) to $30 from $27 on January 29 and reaffirmed a Buy rating on the shares. The stock also received a rating update from Piper Sandler on January 22, with the firm upgrading Elanco Animal Health Incorporated (NYSE:ELAN) to Overweight from Neutral and raising the price target to $30 from $24.
After attending the VMX conference, the firm stated that it believes the company “is making some serious inroads” with corporate groups, with the corporate channel representing a new driver for Elanco Animal Health Incorporated (NYSE:ELAN). In terms of pricing and Befrena, the firm found little pushback to the idea that the company will raise prices on its core franchise.
Elanco Animal Health Incorporated (NYSE:ELAN) is an animal health company that delivers services and products that prevent and treat disease in pets and farm animals. Its diverse portfolio serves animals across various species, primarily cats, dogs, cattle, swine, poultry, and sheep.
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Disclosure: None. This article is originally published at Insider Monkey.
