Erin Wright, an analyst from Morgan Stanley, maintained the Buy rating on Idexx Laboratories (IDXX – Research Report). The associated price target remains the same with $548.00.
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Erin Wright has given his Buy rating due to a combination of factors that highlight Idexx Laboratories’ potential for growth and resilience. Despite a decline in veterinary visits, which are crucial for the company’s Companion Animal Group (CAG) growth, Idexx has demonstrated a strong historical earnings growth rate of 19% over the past decade. This durability in earnings, even amidst challenging macroeconomic conditions, underscores the company’s ability to navigate through uncertainties.
Moreover, Idexx’s focus on innovation, particularly with products like inVue and CancerDx, has received positive feedback, suggesting potential for future growth. The company’s 2025 guidance, although conservative, reflects a realistic approach considering current market conditions. Additionally, Idexx’s largely domestic manufacturing base mitigates some of the risks associated with tariffs, further supporting the Buy rating. Overall, these factors contribute to a positive outlook for Idexx Laboratories, justifying the Buy recommendation.
According to TipRanks, Wright is a 5-star analyst with an average return of 12.9% and a 63.03% success rate. Wright covers the Healthcare sector, focusing on stocks such as Humana, Idexx Laboratories, and Quest Diagnostics.