Charles River price target lowered to $225 from $255 at Guggenheim

Guggenheim lowered the firm’s price target on Charles River to $225 from $255 and keeps a Buy rating on the shares. Shares sold off by about 5% yesterday on softer than expected FY24-26 guidance commentary, but the firm believes new targets for 6%-8% annual growth and about 150 basis points of margin expansion are “reasonable, if not conservative,” the analyst tells investors. The firm thinks shares “can start working again as expectations have now been reset,” the analyst added.