Charles River Labs (CRL) PT Raised to $360 at Jefferies as the M&A Wave Lifts Growth Profile

Jefferies analyst David Windley raised the price target on Charles River Labs (NYSE: CRL) to $360.00 (from $270.00) after the company recovered rapidly from COVID to take advantage of two key opportunities:

1) customers' desires to secure reliable service access (e.g. more outsourcing)

2) M&A. CRL's recent acquisitions might not be big enough to label transformative now, but should be soon

The analyst maintained a Buy rating stating "Similar to CTLT, CRL's biologics and CGT acquisitions materially enhance its growth profile, now DD organic. Those businesses also have higher margin potential."

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