Erin Wright, an analyst from Morgan Stanley, maintained the Buy rating on Idexx Laboratories. The associated price target is $805.00.
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Erin Wright has given his Buy rating due to a combination of factors that highlight both near-term execution and durable long-term growth. Idexx delivered a notably strong fourth quarter, with earnings exceeding her expectations thanks to better-than-anticipated revenue, margin performance, and favorable tax and interest items. She also views the newly introduced 2026 outlook as constructive: management’s organic growth targets for the overall business and especially for recurring CAG diagnostics revenue align with, or slightly exceed, current Street expectations, and the company is planning for steady operating margin improvement that supports healthy EPS growth.
Beyond the numbers, Wright emphasizes Idexx’s expanding installed base of instruments and software, which deepens customer relationships and provides a solid recurring revenue foundation. She sees the innovation pipeline—particularly the ramp of the inVue Dx platform, the push into new testing areas such as FNA and Cancer Dx, and the development of the MultiCue Dx platform—as reinforcing Idexx’s competitive moat in the attractive veterinary diagnostics market. Even as U.S. vet visit trends remain soft, she believes the company’s defensible leadership position, technology differentiation, and global momentum should allow the shares to trend higher over time, justifying a Buy rating.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $800.00 price target.