Zoetis rises as executives detail plans to defend market share
BUZZ-Zoetis rises as executives detail plans to defend market share Updates
** Zoetis ZTS.N shares rise 2.3% to $76.11, reversing premarket losses
** The animal health company will be "aggressive" in defending its positions in dermatology and parasite treatments - CEO Kristin Peck
** Rivals increasingly using discounts, rebates and bundled offerings in a slower-growing market; lower vet clinic visits, price-sensitive pet owners, competition pressured demand - Peck
** ZTS now expects 2026 adj. EPS of $6.15-$6.25, compared with prior view $6.85-$7.00
** Expects 2026 revenue of $9.12 billion-$9.32 billion, down from prior view $9.68 billion-$9.96 billion; analysts on average were expecting $9.73 bln, according to data compiled by LSEG
** Forecast cut could remove a significant overhang as investor expectations had already moved toward the low end of Zoetis' prior forecast range - Barclays analyst Glen Santangelo
** Including session's move, stock down ~40% YTD
(Reporting by Sahil Pandey and Sriparna Roy in Bengaluru)
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