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Investing.com - Stifel maintained its Buy rating on IDEXX Laboratories (NASDAQ:IDXX) stock with a price target of $775.00, representing potential upside from the current price of $669. According to InvestingPro data, the stock appears overvalued compared to its Fair Value, despite posting an impressive 59.35% return over the past year.
The research firm normalized 2025 Consumables growth for Rapid Assay tailwinds, specifically from Pancreatic Lipase, calculating an underlying growth rate of 12.1%. This growth projection includes some revenue contribution from the company’s inVue product. This growth rate would significantly outpace IDEXX’s current revenue growth of 8.39%.
Stifel noted that inVue’s revenue contribution is expected to increase in 2026 compared to 2025, particularly from FNA (Fine Needle Aspirate). Additionally, 2026 will see a full year of revenue contribution from Cortisol on the Catalyst platform.
For 2026, Stifel estimates Consumables organic revenue growth at 11.3%, slightly lower than the 2025 projection but still representing substantial growth.
The firm expressed optimism about IDEXX Laboratories’ prospects, stating "We see upside" in its assessment of the veterinary diagnostics company.
In other recent news, IDEXX Laboratories reported strong third-quarter results that exceeded expectations. The company achieved earnings per share of $3.22, surpassing the forecasted $3.14, resulting in a 2.55% earnings surprise. Revenue reached $1.1 billion, outperforming the anticipated $1.07 billion and marking a 2.8% revenue surprise. Following these results, Jefferies and BTIG both raised their price targets for IDEXX Laboratories to $830, maintaining a Buy rating on the stock. Stifel also increased its price target to $775, citing a positive growth outlook. The company’s robust performance prompted IDEXX to raise its guidance. Analysts from Jefferies noted the sales growth of 13% and EBITDA growth of 16% as factors for the target increase. Stifel’s analysis highlighted modest improvements in veterinary visits and a strengthening market position. These developments reflect growing investor confidence in IDEXX Laboratories’ future performance.
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