Analyst Erin Wright from Morgan Stanley maintained a Buy rating on Idexx Laboratories (IDXX – Research Report) and keeping the price target at $550.00.
Erin Wright has given his Buy rating due to a combination of factors that demonstrate Idexx Laboratories’ strong performance and promising future prospects. The company’s reported earnings per share for the fourth quarter significantly exceeded expectations, driven by better revenue and profitability, favorable tax conditions, and other financial improvements. The guidance for 2025 is particularly robust, with anticipated organic revenue growth and operating margin expansion that exceed consensus estimates.
Idexx Laboratories also shows strength in its CAG Diagnostics Recurring organic revenue, which is projected to grow substantially. Additionally, the company’s innovation and leadership in the diagnostics market remain solid, providing a competitive edge. Despite some recent market pressure, the positive financial results and forward-looking guidance suggest that the stock is well-positioned for growth, supporting Wright’s Buy recommendation.
According to TipRanks, Wright is a 5-star analyst with an average return of 14.0% and a 63.72% success rate. Wright covers the Healthcare sector, focusing on stocks such as Walgreens Boots Alliance, UnitedHealth, and Cardinal Health.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $530.00 price target.