Charles River Labs (CRL) PT Raised to $360 at Jefferies as the M&A Wave Lifts Growth Profile
Get Alerts CRL Hot Sheet
Price: $243.14 +1.25%
Rating Summary:
19 Buy, 7 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Rating Summary:
19 Buy, 7 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
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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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