The Convention on International Trade in Endangered Species of Wild Fauna and Flora, or CITES, Standing Committee has voted to defer the decision on the global halt on importing nonhuman primates from Cambodia to the SC79 meeting, which is likely a year from now and is a positive surprise it as has bought Cambodia more time to come up with the necessary corrective measures, Evercore ISI tells investors in a research note. The decision is positive for Charles River (CRL) in that not banning NHP exports from Cambodia will allow the company to continue to source NHPs, currently 40% of the company’s total supply, there, and should help ease concerns regarding the potential EPS impact in 2025, the firm says. Evercore has an In Line rating and $195 price target on Charles River shares.
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