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Fly News Breaks for September 16, 2019
CRL
Sep 16, 2019 | 08:53 EDT
SunTrust analyst Sandy Draper raised his price target on Charles River to $162 and kept his Buy rating after its investor day presentation highlighted the company's "strong macro tailwinds" and the management's "dogmatic focus on execution". The analyst notes that Charles River should continue to see high single digit organic growth, margin expansion, as well as strong end market demand which, coupled with accretive M&A, should allow it to double its revenue over the next 5 years. Draper adds that he is positive on the company's "breadth and depth of offerings" driving its expanded market share relative to the competition.
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