What happened to last quarter stock price?
The second quarter was weak. Organic revenue fell 1%, US pet medicine sales fell 11%, and management cut its full-year revenue forecast for the second time this year, to $9.12 billion to $9.32 billion. The stock rose 3.9% on the day anyway, a sign the price was pessimistic.
In September, management said the discounts it was using to win customers back from rivals hadn’t worked well enough, so it made them bigger in the third quarter. List prices were not cut though, just bigger discounts.
stock like Zoetis It fell to $69.10 on 1 Oct, then recovered to $82.00, 6% above where i wrote about it before
Where we stand the fair value is $125 to $155, and the stock trades 34% below the low end.this show market still not very pessimistic yet
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