JPMorgan Chase Lowers Price Target for Zoetis Amid Market Volatility

JPMorgan Chase & Co., one of the largest banks in the US, has decreased its price target for Zoetis (NYSE:ZTS) from $130.00 to $115.00. This change was announced on Friday by equities research analysts at JPMorgan Chase & Co.

The current rating on the stock remains 'overweight', indicating that the analysts still have a positive outlook on the company's performance. The target price decrease suggests a potential upside of 58.26% from Zoetis' previous close, which was $72.67.

Several other analysts have also revised their price targets for Zoetis in recent weeks. For example, Barclays cut its target to $85.00 and set an 'equal weight' rating on the stock, while Citigroup reduced its target from $145.00 to $112.00 but maintained a 'buy' rating.

Zoetis is a global animal health company that develops, manufactures, and markets products for companion animals and livestock. The company's most recent earnings report beat analyst estimates, with adjusted earnings per share of $1.87.