Charles River Associates price target raised to $151 from $117 at Barrington

Barrington analyst Kevin Steinke raised the firm’s price target on Charles River Associates to $151 from $117 and keeps an Outperform rating on the shares, citing “favorable estimate revisions” and an increase in its valuation multiple assumption after Q4 results exceed expectations. The number of new project originations in Q4 increased at a double-digit pace relative to Q3 and management believes clients have become more comfortable that inflation and interest rates will trend in a favorable direction, the analyst tells investors.