Covetrus falls as price target lowered to $26 at Barclays

May 09, 2022 11:19 AM ETCVETBy: Pranav Ghumatkar, SA News Editor
  • Barclays analyst Balaji Prasad lowered the firm's price target on Covetrus (CVET -7.8%) to $26 from $38 and keeps an Overweight rating on the shares.
  • The analyst says both recent macro challenges and vet clinic constraints are likely to act as a driver for Covetrus' offerings, and believes the company's outlook is likely to stay intact.
  • Since the start of 2022, Covetrus shares fell around 24%, and over a period of one year, shares were down around 47%.
  • Wall Street analysts stand with a Buy rating on the stock and Seeking Alpha Quant Rating also says to Buy.

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