Credit Suisse Remains a Hold on Charles River Labs

By Austin Angelo

Credit Suisse analyst Erin Wright maintained a Hold rating on Charles River Labs (NYSE: CRL) on February 13 and set a price target of $108. The company’s shares closed yesterday at $110.31.

According to TipRanks.com, Wright is a 5-star analyst with an average return of 11.7% and a 72.1% success rate. Wright covers the Services sector, focusing on stocks such as AmerisourceBergen Corporation, Patterson Companies Inc, and Quest Diagnostics Inc.

Currently, the analyst consensus on Charles River Labs is Moderate Buy and the average price target is $118.17, representing a 7.1% upside.

In a report issued on February 13, RBC Capital also reiterated a Hold rating on the stock with a $116 price target.

Based on Charles River Labs’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $478 million and GAAP net loss of $29.85 million. In comparison, last year the company earned revenue of $467 million and had a net profit of $44.68 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Charles River Laboratories International, Inc. is an early-stage contract research company, which provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions around the globe to accelerate their research and drug development efforts. It operates through the following business segments: Research Models and Services, Discovery and Safety Assessment, and Manufacturing Support. The Research Models and Services segment comprises of the production and sale of research models, and also offers services designed to support to clients use of research models in screening drug candidates. The Discovery and Safety Assessment segment offers discovery and safety assessment services, both regulated and non-regulated, in which it include both in vivo and in vitro studies, supporting laboratory services, and strategic preclinical consulting and program management to support product development. The Manufacturing Support segment offers endotoxin and microbial detection, avian vaccine services and biologics testing solutions. The company was founded by Henry L. Foster in 1947 and is headquartered in Wilmington, MA.