The Collaborative International Dictionary of English v.0.48:

Laudable \Laud"a*ble\, a. [L. laudabilis: cf. OE. laudable. See
   Laud, v. i.]
   1. Worthy of being lauded; praiseworthy; commendable; as,
      laudable motives; laudable actions; laudable ambition.
      [1913 Webster]

   2. (Med.) Healthy; salubrious; normal; having a disposition
      to promote healing; not noxious; as, laudable juices of
      the body; laudable pus. --Arbuthnot.
      [1913 Webster]

WordNet (r) 3.0 (2006):

laudable
    adj 1: worthy of high praise; "applaudable efforts to save the
           environment"; "a commendable sense of purpose"; "laudable
           motives of improving housing conditions"; "a significant
           and praiseworthy increase in computer intelligence" [syn:
           applaudable, commendable, laudable, praiseworthy]

Moby Thesaurus II by Grady Ward, 1.0:

52 Moby Thesaurus words for "laudable":
   admirable, advantageous, auspicious, beneficial, benevolent,
   beyond all praise, bon, bonny, braw, bueno, capital, cogent,
   commendable, creditable, deserving, elegant, estimable, excellent,
   exemplary, expedient, fair, famous, favorable, fine, good, goodly,
   grand, healthy, helpful, kind, meritorious, model, nice, noble,
   notable, noteworthy, outstanding, pleasant, praiseworthy,
   profitable, regal, royal, skillful, sound, splendid,
   unexceptionable, useful, valid, very good, virtuous,
   well-deserving, worthy