Baird raised the firm’s price target on Charles River (CRL) to $211 from $190 and keeps a Neutral rating on the shares. More than 80% of Charles River business is in markets that don’t currently bring growth, where certain costs are increasing, and pricing is, or may soon be, weakening, the analyst tells investors in a research note. The firm added that there is no established trend, just present reprieve in the much worse themes discussed 90 days ago. Baird also noted that Q3’s “less bad” story, strong manufacturing segment, and numerous profit protection drivers reduce worst case fears.
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