Charles River Labs (CRL) PT Lowered to $239 at Baird

Baird analyst Eric W. Coldwell lowered the price target on Charles River Labs (NYSE: CRL) to $239.00 (from $271.00) while maintaining a Outperform rating.

The analyst commented: "Incrementally cautious on 2H ramp, lowering 2H estimates and valuation. We think Q2 is OK, and we want to own CRL for LT. 2025+ should bring stability, growth, and multiple expansion. However, CRL could surprise us, but it feels like we need even more aggressive actions or a heck of a 2H rally to get to lower end of 2024 guidance (that we never felt was appropriate). The DSA ramp required feels wholly undoable, the rest feels doable."

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