Bank of America has revised its price target for Idexx Laboratories (IDXX, Financial), lowering it from $535 to $475, while maintaining a Neutral rating on the stock. As the company approaches its first-quarter earnings report, there appears to be a predominately negative sentiment surrounding its animal health sector.
The analysis highlights both broader market challenges and specific company-related issues as contributing factors to this outlook. Despite the opportunity for enhanced foreign exchange rates to potentially drive estimates upward, the firm anticipates minimal immediate catalysts to bolster the stock.
As a result, Bank of America expects Idexx Laboratories shares to stay close to their current value, given these persistent headwinds.
