Guggenheim upgrades Charles River, sees buying opportunity in pullback

As previously reported, Guggenheim upgraded Charles River to Buy from Neutral with a $255 price target. The firm sees a buying opportunity after the stock sank 10% following earnings, stating that the lower than expected 2023 guidance was due to the company suspending the import of non-human primates for research from Cambodia. Aside from the NHP issue, which the firm believes will be resolved "at least to some degree" over the next year, Charles River is performing well operationally and continues to see robust demand, the analyst tells investors.