Charles River price target lowered to $175 from $195 at Evercore ISI

Evercore ISI lowered the firm’s price target on Charles River (CRL) to $175 from $195 and keeps an In Line rating on the shares. The firm says the company’s Q4 better-than-feared results as well as a realistic 2025 outlook have set the stage well for the current demand environment. Although demand remains constrained, management is prudently offering a continuation of the current outlook, along with tackling longer-term structural issues including additional cost cutting and share repurchases. Overall, Evercore sees the results as potentially indicative of a bottoming of the current cycle, and looks for positive indications of an inflection in demand before becoming more constructive on the earnings outlook and valuation.