Stifel has upgraded IDEXX Laboratories (IDXX, Financial) from hold to buy, driven by anticipated growth in recurring revenue for its Coag Dx analyzer and increased veterinary visits. The firm also raised its price target to $700, reflecting an approximate 11% upside from the October 31 closing price. Analyst Jonathan Block foresees a soft landing in pricing and expects the company's premium to strengthen, potentially leading to over 15% annual EPS growth in the coming years. Non-wellness vet appointments are showing better trends compared to wellness visits.
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