As previously reported, Gabelli analyst Kevin Kedra upgraded Phibro Animal Health to Buy given its more favorable valuation following the Q3 earnings-miss driven 21% decline in the stock price on May 7th. With global markets expected to respond to the outbreak of African Swine Fever in China, the analyst also anticipates the company to recover in 2020, saying that Asia Pacific sales during Q3 were already strong, but sees the impact of the outbreak still to come. Kedra lowers his FY19 EPS view by 20c to $1.50 but sees a recovery in earnings to $1.75 in FY20.