Zoetis Delivers Stellar 4Q Results; Our FVE Is Unchanged
Zoetis wrapped up 2017 with impressive fourth-quarter results that slightly exceeded our expectations on the top line, but met them on the bottom line. Our slight adjustments to our model did not materially shift our valuation, so we’re leaving our fair value unchanged. With total quarterly operational revenue growth clocking in at 13%, Zoetis enjoyed double-digit growth across the livestock and companion animal segments, as well as in the U.S. and the international geographies. Considering Zoet...
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