In a report released yesterday, Charles Rhyee from TD Cowen maintained a Buy rating on Charles River Labs, with a price target of $197.00.
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Charles Rhyee has given his Buy rating due to a combination of factors that suggest potential upside for Charles River Labs. Despite the challenges anticipated in revenue growth for 2026, the company operates in a dynamic environment where improvements are possible. Recent trends such as increased proposal activity and better biotech funding indicate a more favorable business-to-business environment, which could lead to improved performance.
Additionally, management’s insights suggest that even a modest improvement in bookings could set the company on a path to revenue growth. The strategic review might not have resulted in significant immediate actions, but the risk/reward profile remains attractive. Rhyee’s analysis, including a discounted cash flow evaluation, supports the view that shares could trade at a multiple of 18 times the estimated adjusted EPS for 2026, reinforcing the Buy recommendation.
In another report released on November 6, Robert W. Baird also upgraded the stock to a Buy with a $199.00 price target.