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Upgrade Alert for Idexx Laboratories (IDXX)

By Nick Russo

Idexx Laboratories (NASDAQ:IDXX) was upgraded from Sell to Neutral at Northcoast today. The stock closed yesterday at $107.97 on volume of 1.5 million shares, above average daily volume of 747,000.

Idexx Laboratories (NASDAQ:IDXX) defies analysts with a current price ($107.97) 37.0% above its average consensus price target of $68.00. The stock should find initial support at its 50-day moving average (MA) of $78.79 and further support at its 200-day MA of $73.44.

Idexx Laboratories share prices have moved between a 52-week high of $108.64 and a 52-week low of $56.74 and closed yesterday at 90% above that low price at $107.97 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.6%.

IDEXX Laboratories, Inc. provides diagnostic, detection, and information systems for veterinary, food, and water testing applications. The Company also operates an international network of veterinary reference laboratories. IDEXX offers its products to customers worldwide.

SmarTrend recommended that subscribers consider buying shares of Idexx Laboratories on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.77. Since that recommendation, shares of Idexx Laboratories have risen 47.5%. We continue to monitor IDXX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades idexx laboratories

Ticker(s): IDXX