Analysts at BMO Capital Markets upgraded animal health care products maker Zoetis Inc (ZTS) on Thursday, saying that the stock’s near-term weakness offers an attractive buying opportunity.
The analysts upgraded ZTS from “Market Perform” to “Outperform” and see shares reaching $36, up from the previous target of $34. This new price target suggests a 16% upside to the stock’s Wednesday closing price of $30.97.
Alex Arfaei, an analyst at BMO Capital, noted that the stock has strong fundamental support below $30 per share, which makes its current valuation so attractive.
Zoetis shares were up 36 cents, or 1.16%, during pre-market trading on Thursday. The stock is down 0.13% since its IPO on February 1.
The Bottom Line
Shares of Zoetis (ZTS) have a dividend yield of 0.84% based on last night’s closing price of $30.97 and the company’s annualized dividend payout of 26 cents per share.
Zoetis Inc (ZTS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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