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CRL

Charles River

$101.99

2.22 (2.23%)

08:51
02/13/18
02/13
08:51
02/13/18
08:51

Charles River says well-positioned to address strong demand

Says investments have positioned CRL well to address continued strong demand, which is basis for 2018 outlook.Says Non-GAAP EPS guidance includes a 14c gain on venture capital investments and 14c for excess tax benefits associated with stock compensation. Says adjusting both 2017 and 2018 non-GAAP EPS for both VC gains and the excess tax benefit, non-GAAP EPS y-o-y growth would be 8%-11. Says including MPI, non-GAAP EPS range is $5.67-$5.82, a 13.5%-16.5% growth rate on the same adjusted basis. Says in both cases, the projected EPS growth rates are in line with goal of greater than 200 basis points higher than the organic revenue growth rate. Says plans to continue to expand in China. Expects trends to continue: Declining demand for large biopharma, Increasing demand from biotechs, Strong growth in China, Modest price increases, Demand for services. Reaffirms our long-term target of low-single-digit revenue growth for RMS. Expects Discovery to generate higher revenue growth in 2018 and beyond. Says continues to expand services and demand for outsourced services trends higher. Sees improved revenue growth for Early Discovery in 2018. Sees continued Safety Assessment growth in 2018.

  • 13

    Feb

CRL Charles River
$101.99

2.22 (2.23%)

12/13/17
12/13/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lowe's (LOW) initiated with a Buy at Guggenheim. 2. Aimmune (AIMT) initiated with an Overweight at Cantor Fitzgerald. 3. Westlake Chemical (WLK) reinstated with a Buy at Deutsche Bank. 4. Wabtec (WAB) initiated with an Outperform at Cowen. 5. Charles River (CRL) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/18/18
EVER
01/18/18
INITIATION
Target $117
EVER
In Line
Charles River initiated with an In Line at Evercore ISI
Evercore ISI started Charles River with an In Line rating and $117 price target.
01/22/18
RHCO
01/22/18
DOWNGRADE
RHCO
Hold
Charles River downgraded to Hold from Buy at SunTrust
01/22/18
RHCO
01/22/18
DOWNGRADE
Target $111
RHCO
Hold
Charles River downgraded to Hold at SunTrust on valuation
As reported earlier, SunTrust analyst Sandy Draper downgraded Charles River to Hold from Buy and lowered his price target to $111 from $113 as part of his broader "CRO Universe 2018 preview" research note. Draper says that while the momentum of a strong CRO industry carries into 2018, the PE valuations are now ahead of the 2- and 5-year averages, and the year should be "largely contingent on underlying earnings generation rather than further multiple expansion". For Charles River, Draper says the valuation "no longer excites us", adding there are downside risks from "weaker demand from large pharma due to less outsourcing or consolidation" as well as cost inflation margin pressure.

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