Benzinga | Aug 20, 2020 10:57AM EDT

Why Elanco Animal Health's Stock Is Trading Higher Today

Elanco Animal Health (NYSE:ELAN) shares are trading higher on Thursday after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and announced a price target of $31 per share.

Elanco Animal Health is an animal health company that is engaged in innovating, developing, manufacturing, and marketing products for companion and food animals. It offers a range of food animal products used in cattle, sheep, goats, and swine production.

Elanco Animal Health's stock traded up 5.85% at $27.31 per share at the time of publication on Thursday. The stock has a 52-week high of $32.66 and a 52-week low of $15.17.