Rising Tariffs on Meat Leave Us Cautious About Zoetis' Livestock Segment; No Change to Our FVE
We’re holding steady on our fair value estimate for Zoetis at $67 per share, after making slight adjustments to our production animal projections for 2019 and 2020. While the production segment tends to grow, over the long term, along with the economy, we expect there could be some additional pressure that trickles down from rising tariffs attached to meat through the midterm. While this wasn't enough to move the needle on our valuation, we may make further revisions once Zoetis reports third-qu...Zoetis is a holding company. Through its subsidiaries, the company is engaged in the discovery, development, manufacture and commercialization of animal health medicines, vaccines, and diagnostic products with a focus on both livestock and companion animals. The company operates in two segments: the United States and International. The company's main product categories are vaccines, anti-infectives, parasiticides, other pharmaceutical products, dermatology products, medicated feed additives, and animal health diagnostics. The company's other non-pharmaceutical product categories include nutritionals and agribusiness, as well as products and services including biodevices, genetic tests and precision livestock farming.
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