Update: Phibro Animal Health 12.74M share IPO priced at $15.00 The deal size was increased to 12.74M shares from 11.77M shares and priced below the $16.00-$18.00 range. BofA/Merrill, Morgan Stanley and Barclays acted as joint book running managers for the offering.
Phibro Animal Health price target raised to $36 from $27 at Cantor Cantor increased its price target on Phibro after the company reported stronger than expected Q1 results. The firm thinks the trends of the company's sector are favorable, and it keeps a Buy rating on the shares.
Phibro Animal Health sees FY15 adj. EPS $1.57-$1.62, consensus $1.49 Sees FY15 revenue $739M-$759M, consensus $741.99M. FY15 revenue guidance represents a growth of 7%-10%. sees FY15 adjusted EBITDA $103M-$107M, representing growth of 14%-18%.