Market Overview

Sterne Agee Maintains Buy, PT of $43 on Charles River Laboratories

Share:

Sterne Agee reiterates its Buy rating and price target of $43 on Charles River Laboratories (NYSE: CRL) as sentiment around the stock is low.

Sterne Agee says, “After meeting multiple investors recently, we believe sentiment towards CRL shares is extremely low, which we attribute to CRL management's bearish comments on GLP toxicology demand as well as residual disdain for the WuXi PharmaTech (WX-$11.73-NR) acquisition attempt last year. We certainly understand such sentiment but we point to an incredibly attractive valuation (RMS intrinsic value = $28 per share), the very real potential for an uptick in IND-enabling study activity, and potential for a capitulation in sell-side negativity.”

CRL traded at $28.03 per share at close on Friday.

 

Related Articles (CRL)

View Comments and Join the Discussion!

Posted-In: Sterne Agee & LeachAnalyst Color Reiteration Pre-Market Outlook Analyst Ratings

Latest Ratings

StockFirmActionPT
DOWTruist SecuritiesMaintains55.0
SBUXJP MorganMaintains80.0
AAPLCitigroupMaintains125.0
BCDAAlliance Global PartnersInitiates Coverage On11.5
EURNJonesTradingInitiates Coverage On
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com