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Investing.com - Stifel raised its price target on IDEXX Laboratories (NASDAQ:IDXX) to $775.00 from $700.00 on Monday, while maintaining a Buy rating on the veterinary diagnostics company. The new target approaches the analyst high target of $785, according to InvestingPro data. IDEXX shares currently trade at $719.79, representing a significant 50.86% return over the past year.
The price target increase follows Stifel’s recent upgrade thesis that predicted modestly improving veterinary visits, a soft landing for pricing, and strengthening of IDEXX’s premium positioning in the market. This optimism comes despite IDEXX trading above its Fair Value according to InvestingPro analysis, with a high P/E ratio of 59.93.
Stifel noted these variables "all played out in the quarter" with improvements in both veterinary visits and the company’s premium positioning, while pricing has "proved somewhat durable."
The firm revised nearly all key metrics upward in its model, including raising its 2027 earnings per share estimate from $16.69 to $16.84, which it describes as a "Street high" forecast.
For 2026, Stifel projects worldwide Companion Animal Group (CAG) diagnostics recurring revenue growth of 8.8%, up from its previous estimate of 8.4%, based on current veterinary visit trends, pricing expectations, and IDEXX’s premium positioning. The company, with a market cap of $57.63 billion, has demonstrated 6.68% revenue growth in the last twelve months. Discover more insights and 17 ProTips for IDEXX in the comprehensive Pro Research Report available on InvestingPro.
In other recent news, IDEXX Laboratories Inc. reported impressive financial results for the third quarter of 2025, exceeding market expectations. The company achieved earnings per share of $3.22, surpassing the projected $3.14, resulting in a 2.55% earnings surprise. Additionally, IDEXX’s revenue reached $1.1 billion, outperforming the anticipated $1.07 billion and marking a 2.8% revenue surprise. These figures highlight the company’s robust performance during this period. The positive earnings report reflects strong operational execution and was well-received by investors. The results underscore IDEXX Laboratories’ ability to deliver beyond analyst forecasts, contributing to heightened investor confidence. These recent developments are significant for stakeholders monitoring the company’s financial health.
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