Pandemic Pets Push Industry Stocks to Pricey Valuations

The pet business has been among the great beneficiaries of the new coronavirus. That success has made some stocks in the sector expensive.

Among the sector’s big winners this year are veterinary services firm Idexx Laboratories , up about 61% this year, and drug company Zoetis Inc., which is 25% higher. The S&P 500 is up 8.7% for 2020. Investors will get a closer look at the companies in the coming weeks: Idexx is due to report third-quarter results Oct. 29, while Zoetis is due to report its results Nov. 5..

Michael Ryskin, an equity analyst at Bank of America, said he believes these trends will amount to a multiyear tailwind for the animal-health industry. “The pet, or ‘companion animal’ industry, has been incredibly strong and resilient for many years, and despite fear of a negative impact from Covid-19, is having another strong year in 2020,” he said.

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대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Southeast Asia struggles to kickstart its battered tourism industry as the pandemic chokes demandTourism is starting to kick off slowly in Southeast Asia kicks again as the pandemic comes under control, but diverging solutions in healing the ravaged tourism industry highlight the challenges ahead. It will depend on us and eu doctors/scientists for a covid vaccine. Id wager mid may for widespread use thus early june for widspread tourism. 2021
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