Charles River price target raised to $235 from $205 at Morgan Stanley

Morgan Stanley analyst Tejas Savant raised the firm’s price target on Charles River to $235 from $205 and keeps an Equal Weight rating on the shares. While FY24 guidance was in line, it embeds a backend-loaded year contingent on improving biotech funding, Noveprim seasonality and other factors, notes the analyst, who remains on the sidelines pending evidence of improving visibility on the macro backdrop.