Citi analyst Patrick Donnelly upgraded Charles River (CRL) to Neutral from Sell with a price target of $175, up from $155. The firm thinks headwinds from the company’s large pharma customer group with regard to Inflation Reduction Act caution and its pipeline restructuring are now well understood by investors. Citi, however, does not upside to estimates, and believes Charles River’s Discovery and Safety Assessment segment will continue to face price and mix headwinds throughout the year.
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