TD Cowen analyst Charles Rhyee maintained a Hold rating on Charles River Labs (CRL – Research Report) today and set a price target of $105.00.
Charles Rhyee has given his Hold rating due to a combination of factors impacting Charles River Labs. One significant consideration is the anticipated changes in biopharmaceutical R&D growth, which have led to a revision of earnings estimates for the company. The FDA’s plan to phase out animal testing is expected to affect Charles River Labs, but the timing of this impact remains uncertain, so it has not been factored into the current estimates.
Additionally, the report highlights adjustments in the company’s revenue and operational income projections across its various segments, reflecting expected declines or flat growth. The uncertainty surrounding the FDA’s plan has also led to a higher discount rate in the discounted cash flow assumptions, contributing to a lowered price target. These elements combined have led to the decision to maintain a Hold rating, suggesting that the stock is fairly valued at its current levels.
According to TipRanks, Rhyee is a 2-star analyst with an average return of -0.6% and a 44.36% success rate. Rhyee covers the Healthcare sector, focusing on stocks such as Charles River Labs, IQVIA Holdings, and Medpace Holdings.
In another report released on April 11, Robert W. Baird also maintained a Hold rating on the stock with a $101.00 price target.