BWS Financial Raises PT on Life Science Research (LSR) to $38

May 2, 2008 10:01 AM EDT

BWS Financial raises its price target on Life Science Research (NYSE: LSR) from $28 to $38. The firm has a Buy rating on the stock.

The firm believes that Life Science Research's solid Q1 earnings suggested that pharmaceutical companies are continuing to move towards contract research organizations and away from in-house research operations. BWS notes that LSR stock trades at a discount to its two largest competitors, but believes this will not remain "for too long given increases in the operating margin."

Going forward, BWS expects LSR to continue trending higher due to more new business and sequential improvements in operating margins.

Life Sciences Research, Inc. operates as a contract research organization worldwide. [BCS]


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