Benzinga | Aug 4, 2020 03:22PM EDT

Why Elanco Animal's Stock Is Trading Higher Today

Elanco Animal Health Inc (NYSE:ELAN) shares are trading higher on Tuesday after Goldman Sachs reinstated a Buy rating on the stock and announced a price target of $26.50 per share.

Elanco Animal is an animal health company that is engaged in innovating, developing, manufacturing, and marketing products for companion and food animals. Geographically, the company derives revenue from North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific with the highest revenue from the North America segment. It offers a range of food animal products used in cattle, sheep, goats, and swine production.

Elanco Animal shares were trading up 5.79% to $24.66 at time of publication on Tuesday. The stock has a 52-week high of $33.92 and a 52-week low of $15.17.