Charles River price target raised to $290 from $200 at Argus

Argus raised the firm’s price target on Charles River to $290 from $200 and keeps a Buy rating on the shares. The firm is citing the company’s expectations for stronger revenue growth and operating margin expansion in the second half of 2024, also stating that the acquisition of Noveprim will assure pricing and supply of NHPs research models for preclinical research, the analyst tells investors in a research note. Argus adds that biopharma and contract manufacturer customers have resumed ordering of reagents and consumables, supporting the upbeat outlook for Charles River.