UPDATE: Feltl and Company Reiterates Hold Rating, Raises PT for IDEXX Laboratories
In a report released earlier today, Feltl and Company, Inc. reiterated its Hold rating for IDEXX Laboratories, Inc. (NASDAQ: IDXX), along with raising its price target from $87.50 to $90.00.
Feltl and Company said in the report “We believe that IDEXX is well positioned for a recovery in the veterinary market with its large install base and wide range of products and services. The company is a leader in virtually all of the markets it serves. In addition, IDEXX's research and development budget dwarfs that of its veterinary market competitors; the company's research and development spending likely totals 75% of the entire industry's combined research and development budget. Their position within the industry and the resultant scale should allow them to expand operating leverage.”
IDEXX Laboratories, Inc. closed at $86.44 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.