As previously reported, Evercore ISI upgraded Charles River to Buy from Hold and with an $86.50 price target. Analyst Ross Muken said his upgrade hinges on three key items, robust biopharma demand is likely to continue and benefit discovery/early development, fears of margin degradation from a mix shift are overblown, and management has a stellar capital allocation track record that has led to significant TSR. Muken adds Charles River's current discount provides a favorable entry point for investors looking for upside from double digit earnings growth.