Charles River price target lowered to $228 from $260 at TD Cowen

TD Cowen analyst Charles Rhyee lowered the firm’s price target on Charles River to $228 from $260 and keeps a Hold rating on the shares. The firm said following a soft 1Q DSA print questions around the 2H ramp implied in the company’s adj.usted EPS guide remain. While strong 1Q biotech funding makes a 2H inflection likely, Cowen sees its guide requiring SA to see near full capacity utilization in 3Q/4Q which remains uncertain.