Stifel has reiterated a Buy rating on IDEXX Laboratories (NASDAQ:IDXX) and set a price target of $775.00, the research firm said in a note published Monday. The target implies upside from the stock's then-current price of $670.46, though InvestingPro data cited by the research indicates IDEXX is trading above its Fair Value and carries a market capitalization of $53.54 billion.
The analyst team observed that IDEXX's upside in fourth-quarter 2025 was more muted than in the two preceding quarters, a development Stifel suggested could create a "battleground" for the shares in the near term. That characterization reflects a period in which the stock may face competing forces from results, guidance and investor sentiment.
Despite the softer quarter-on-quarter comparison, Stifel highlighted positive signals within IDEXX's operations. The firm noted that the company's premium accelerated on a sequential basis, and pointed to IDEXX's track record of outperforming its initial guidance. Stifel underscored two specific examples from 2025: the company's initial Companion Animal Group Diagnostics recurring revenue growth guidance of 5.0-8.0% was exceeded when actual growth reached 8.1%, and initial EPS guidance of $11.74-12.24 was surpassed by reported EPS of $13.08.
Stifel continues to list IDEXX as one of its two Buy-rated animal health names, alongside Elanco. Looking ahead, the firm said it expects IDEXX's stock performance may be stronger in the second half of 2026, driven by several company developments that it cited: additional indications in cancer diagnostics, ramping of FNA for the inVue platform, and expanded MultiCue developments.
Separately, IDEXX released fourth-quarter results showing revenue rose 14% to $1.09 billion, topping analyst expectations that had forecast $1.07 billion. Stifel and the market attributed the revenue beat largely to the companion animal diagnostics segment. Nonetheless, the shares dipped slightly following the results, a market reaction Stifel noted as reflecting investor focus on guidance and near-term cadence as well as the actual reported metrics.
These developments underscore two themes emphasized by Stifel: IDEXX's capacity to exceed initial internal guidance and the potential for near-term volatility as quarterly momentum moderates and investors digest updates on diagnostics initiatives and product ramp-ups.
Note: The article references InvestingPro data for valuation context and Stifel's research note published Monday. Market prices and capitalization are cited as presented in the research note.