TD Cowen lowered the firm’s price target on Charles River to $203 from $228 and keeps a Hold rating on the shares. The firm said ahead of 2Q they believe the Street expected DSA guide would come down. What was unanticipated was sudden weakness in large biopharma DSA demand. This coupled with conservative deployment among biotech indicates a reacceleration in DSA isn’t likely until well into 2025.
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Read More on CRL:
- Charles River price target lowered to $215 from $235 at Morgan Stanley
- Charles River price target lowered to $240 from $300 at Deutsche Bank
- Charles River price target lowered to $210 from $230 at Barclays
- Charles River downgraded to Neutral from Overweight at JPMorgan
- Charles River downgraded to Neutral from Outperform at Baird