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BofA analyst Michael Ryskin lowered the firm’s price target on Elanco (ELAN) to $13 from $16 and keeps a Buy rating on the shares. Heading into Q1 earnings, the firm says sentiment on its animal health coverage “skews generally negative,” with a number of broader market and company-specific headwinds. The firm sees limited near-term catalysts to drive estimates higher beyond improved foreign exchange rates, so it thinks shares will remain capped near current levels, the analyst added in a preview for the group.

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• Elanco price target lowered to $10 from $13 at Morgan Stanley

• Elanco price target lowered to $13 from $15 at Stifel

• Elanco Animal Health: Strong Buy Rating Driven by Pet Health Growth and Innovative Products

• Elanco Animal Health Announces Board Changes Amid New Agreement

• Elanco director buys $272.6K in common stock