UPDATE: Sterne Agee Resumes Charles River Laboratories at Buy on Multiple Positive Factors

In a report published Wednesday, Sterne Agee analyst Greg T. Bolan resumed coverage on Charles River Laboratories CRL with a Buy rating and $56.00 price target.

In the report, Sterne Agee noted, “In our view, CRL can be characterized as a dominant player within businesses that possess high barriers to entry. With innovative product and service offerings offered at competitive prices, we believe large biopharmaceutical companies seeking to variable-ize cost structures will look to CRL as a provider of choice. We are re-initiating coverage of CRL with a Buy rating and $56 price target.”

Charles River Laboratories closed on Tuesday at $42.27.