Idexx Laboratories price target lowered to $500 from $510 at Stifel

Stifel lowered the firm’s price target on Idexx Laboratories to $500 from $510 and keeps a Hold rating on the shares. The firm believes the long-term company fundamentals “remain largely intact,” but believes price will inevitably need to come down looking ahead, which will put greater pressure on visits and innovation, and believes the company’s latest innovation – the inVue Dx analyzer – will not contribute meaningfully to CAG diagnostic recurring revenue growth until 2026.