UBS raises IDEXX Laboratories price target amid robust Q2 performance and positive outlook

UBS has increased its price target for IDEXX Laboratories to $670 following a stronger-than-expected second-quarter report and raised full-year guidance, signalling confidence in the diagnostics group’s continued growth despite mixed broker ratings.

UBS has lifted its price target on IDEXX Laboratories to $670 from $620 while keeping a neutral stance. The move came after the diagnostics group reported better-than-expected second-quarter results on 4 August, with adjusted earnings of $4.27 a share against forecasts of about $3.94 to $3.95 and revenue of $1.22bn versus the $1.20bn consensus.

Management also raised full-year 2026 guidance, with IDEXX now forecasting earnings of $14.69 to $14.94 a share and revenue of about $4.7bn, broadly in line with consensus. The company said revenue increased 10% year on year, or 9% organically, with growth across Companion Animal Group, Water, and Livestock, Poultry and Dairy.

Broker views remain mixed. Citigroup also lifted its price target to $670 and kept a neutral rating, while Wall Street Zen cut the shares from buy to hold and Weiss Ratings upgraded them from hold (c) to hold (c+).