Charles River Laboratories (CRL) Tops Q2 EPS by 40c; lowers guidance
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JPMorgan Downgrades Charles River Labs (CRL) to Neutral
August 8, 2024 5:55 AM EDTJPMorgan analyst Tycho W. Peterson downgraded Charles River Labs (NYSE: CRL) from Overweight to Neutral with a price target of $205.00 (from $270.00).
The analyst comments "As we noted yesterday in our first take, CRL reported a 2Q top- and bottom-line beat (with the latter aided by $0.30 worth of lower bonus accrual benefit) but took down guidance substantially due to an unexpectedly weaker demand environment in DSA. While buyside expectations assumed a guide cut to 2H24 on a slower pace of recovery in biotech within DSA, the magnitude... More
