TD Cowen analyst Charles Rhyee reiterated a Hold rating and $179 price target on Charles River (CRL), saying the firm expects the FDA’s plan to phase out animal testing in favor of AI-based computational models and organoid testing methods is likely to have a meaningful impact on the company’s Discovery & Safety Assessment segment. While the firm expects this process will take multiple years to play out, it does believe this introduces a large overhang for shares.
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