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Fly News Breaks for May 2, 2019
May 2, 2019 | 17:37 EDT
As previously reported, Gabelli analyst Kevin Kedra downgraded Zoetis to Hold "solely on valuation", saying the stock has nearly quadrupled since its IPO over the past 6 years. The analyst notes that he "struggles" to justify a valuation above his modeled $108 stock price in 2020 which assumes a 20-times EBITDA multiple.