Heska target upped by Benchmark after Zoetis-Abaxis deal

Heska price target raised to $120 following management meetings at Benchmark. After meeting with meetings with Heska (HSKA) management, Benchmark analyst Raymond Myers came away with a better understanding of how current investments are likely to accelerate future cash flows and how its new products and international expansion can accelerate revenue growth in 2019. He also said Zoetis’ (ZTS) deal to acquire Abaxis (ABAX) “puts a high price tag on Heska,” estimating that valuing Heska on the same terms as Abaxis would imply a valuation of $143 per Heska share. Myers raised his price target on Heska to $120 from $100 and keeps a Buy rating on the shares.

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