Charles River downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Charles River (CRL) to Market Perform from Outperform without a price target “There is simply too much working against Charles River in the near term to make the stock interesting,” the analyst tells investors in a research note. The firm is concerned about the near-term outlook for Charles, saying that given the “looming headwind” from loss of exclusivity, large pharma will continue to prioritize products closer to approval that have the potential to contribute revenue in the near term.