Charles River price target raised to $290 from $270 at UBS

UBS raised the firm’s price target on Charles River to $290 from $270 and keeps a Buy rating on the shares. The company can sustain high-single-digit organic sales growth while achieving modest margin expansion, though the Q4 results and FY24 guidance challenge the thesis in the near-term, the analyst tells investors in a research note. The view beyond 2024 has not meaningfully changed, UBS adds.