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UPDATE: Jefferies Upgraded Charles River Laboratories to Buy on Tailwinds

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Jefferies upgraded Charles River Laboratories (NYSE: CRL) from Hold to Buy and raised the price target from $41.00 to $50.00.

Jefferies commented, "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."

Charles River Laboratories closed at $40.46 on Friday.

Latest Ratings for CRL

DateFirmActionFromTo
Jun 2016Credit SuisseInitiates Coverage onNeutral
May 2016BarclaysMaintainsUnderweight
Apr 2016Gabelli & CoInitiates Coverage onBuy

View More Analyst Ratings for CRL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Upgrades Analyst Ratings

 

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