Jefferies Upgrades Charles River Labs (CRL) to Buy

February 19, 2013 7:10 AM EST
Get Alerts CRL Hot Sheet
Price: $79.86 -0.26%

Rating Summary:
    10 Buy, 12 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade CRL Now!
Join SI Premium – FREE
Jefferies upgraded Charles River Labs (NYSE: CRL) from Hold to Buy with a price target of $50.00 (from $41.00).

The firm comments, "We view CRL as the relative value Buy in CROs. Its business mix grows at a slower rate, but accelerating, R&D spending growth rebounds from its trough. Management is successfully broadening relationships to steepen the growth curve. We liken this to PRXL's aggressive move toward strategic deals in late-'09/'10, except that ED revenue converts much faster. Our survey shows ED spending normalizing, while pharma capacity declines."

The firm raised FY13 EPS from $2.83 to $2.85.

For an analyst ratings summary and ratings history on Charles River Labs click here. For more ratings news on Charles River Labs click here.

Shares of Charles River Labs closed at $40.46 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst PT Change, Upgrades

Related Entities

Jefferies & Co

Add Your Comment