Idexx Laboratories price target raised to $675 from $550 at JPMorgan

JPMorgan raised the firm’s price target on Idexx Laboratories (IDXX) to $675 from $550 and keeps an Overweight rating on the shares following quarterly results. Overall, the company provided a solid update with results in the quarter ahead of expectations, with the launch of InVue Dx off to a strong start and with Idexx raising guidance for the year, the firm notes. While negative investor positioning into the print is playing a role in the stock move today, JPMorgan exits the update raising its numbers and with more confidence in Idexx’s new launch trends/near-term growth outlook. Longer term, the firm continues to see Idexx as well positioned to generate sustainable and durable double-digit growth.