Idexx Laboratories price target lowered to $460 from $500 at Stifel

Stifel lowered the firm’s price target on Idexx Laboratories to $460 from $500 and keeps a Hold rating on the shares. The firm has identified a modest step-back in the Veterinarians’ 2023 practice revenue growth expectations and pet owner’s willingness to spend for an average wellness visit has stepped down sequentially, the analyst tells investors. However, product innovation appears robust and several offerings are poised to have a large impact in 2024 and 2025, the firm adds.