Charles River price target lowered to $230 from $245 at BofA

BofA analyst Derik de Bruin lowered the firm’s price target on Charles River to $230 from $245 and keeps a Buy rating on the shares after management used their analyst day to adjust midterm financial targets. The firm believes the “tempered” margin and growth outlooks – including updated guidance that calls for a 6-8% organic growth CAGR and about 150 basis points of operating margin expansion by FY26 – were broadly expected by investors and reflect a more appropriate view of underlying fundamentals, adding that the meeting “efficiently highlighted the diversity” of Charles River’s business and potential.