TD Cowen analyst Charles Rhyee upgraded the rating on Charles River Labs (CRL – Research Report) to a Buy today, setting a price target of $179.00.
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Charles Rhyee’s rating is based on the potential for significant value creation through strategic actions by Charles River Labs. He believes that potential divestitures, particularly the sale of the Manufacturing segment, could unlock substantial proceeds, allowing the company to reinvest in its core businesses or buy back a significant portion of its shares.
Additionally, Rhyee notes that the current market valuation does not fully reflect the company’s leadership position and strong margins in its DSA and RMS segments. Despite ongoing macroeconomic challenges and regulatory concerns, he sees these factors as being outweighed by the opportunity to enhance shareholder value through strategic initiatives.
Rhyee covers the Healthcare sector, focusing on stocks such as Teladoc, Charles River Labs, and CVS Health. According to TipRanks, Rhyee has an average return of 0.0% and a 45.35% success rate on recommended stocks.
In another report released on May 7, Deutsche Bank also maintained a Buy rating on the stock with a $180.00 price target.
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