More Optimistic Long-Term Outlook Leads to FVE Increase to $88 After Charles River's 4Q Results
Following narrow-moat Charles River Laboratories' fourth-quarter results, we are increasing our fair value estimate to $88 per share from $75 thanks to a couple of factors: the integration of the recently announced acquisition of early-stage oncology contract research organization MPI Research, as well as slightly more optimistic long-term top-line and margin forecasts. Quarterly sales growth and margin fell in line with our expectations, driven by the company’s contract manufacturing segment an...
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