Loading...
Loading...
Sterne Agee reiterates its Buy rating and price target of $43 on Charles River Laboratories
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in