Idexx Laboratories price target raised to $590 from $543 at Morgan Stanley

Morgan Stanley analyst Erin Wright raised the firm’s price target on Idexx Laboratories to $590 from $543 and keeps an Overweight rating on the shares. A veterinary industry tracker the firm follows shows that Q1-to-date average weekly revenue across 4,885 U.S. practices rose 6.7% year-over-year, which the firm calls out as a "notable sequential improvement," while vet visits only declined 1.4%, which it said is "also notably better" than Q4. The firm, which thinks Idexx’s "solid" initial 2023 organic growth targets likely embed "an element of conservatism," is raising its 2023 EPS estimate to $9.58 from $9.20.