Argus analyst Jasper Hellweg is raising his price target on Zoetis to $140 and also lifts his FY19 and FY20 EPS views by 6c to $3.58 and $3.98 respectively after its Q2 results last week, saying the company has now beaten expectations for 20 consecutive quarters. The analyst cites Zoetis product portfolio expansion track record along with the recent acquisition of Platinum Performance, which the company expects to diversify its equine and petcare offerings. Hellweg adds that animal health industry has "solid growth potential", and he expects Zoetis to continue to "optimize" its leadership position in the space.

Barclays lowered the firm's price target on Zoetis to $230 from $260 and keeps an Overweight rating on the shares ahead of the Q1 report. The analyst expects the Q1 reports to provide continuing evidence of improvement in generics and biosimilars for the specialty pharmaceuticals group.