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CRL

Charles River

$101.99

2.22 (2.23%)

09:09
02/13/18
02/13
09:09
02/13/18
09:09

Charles River sees FY18 free cash flow $250M-$260M

Says increasing DSA long-term target to the mid-20% range, from more than 20% previously, driven by higher revenue growth and continuing efficiency initiatives. Says believe trends will continue, so reaffirming long-term target of low-double-digit organic revenue growth for manufacturing segment. Says believes the Microbial business will be able to continue to deliver low-double digit organic revenue growth for the foreseeable future. Says plans to expand into new facility near existing Pennsylvania site for Biologics. Says increasing Manufacturing operating margin target to the mid-30% range, from more then 30% previously. Sees RMS 2018 reported revenue growth low-single digits, organic growth low-single digits, sees DSA reported revenue growth high-single digits, organic growth in same range as 2017. Sees 2018 manufacturing reported revenue growth above 10%, sees organic revenue growth above 10%. Says will continue to add staff to support growth across many of businesses to keep pace with demand in 2018. Expects to generate efficiency savings of $60M-$65M before the benefit of expected MPI synergies in 2018. Expects net interest expense to be $29M-$31M in 2018. Expects 2018 tax rate to be 25%-26%, excluding MPI. Sees 2018 CapEx approximately $100M before factoring in MPI capital requirements.

  • 13

    Feb

CRL Charles River
$101.99

2.22 (2.23%)

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.
01/22/18
RHCO
01/22/18
DOWNGRADE
RHCO
Hold
Charles River downgraded to Hold from Buy at SunTrust
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.
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.

TODAY'S FREE FLY STORIES

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TTS

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WMT

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HALO

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EROS

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PK

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SIX

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EROS

Eros International

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FG

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OC

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MU

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General news
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IPHS

Innophos Holdings

$42.67

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VPG

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$24.85

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IPHS

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ONCE

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CHS

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ANW

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VPG

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AEL

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CELG

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  • 21

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ANTH

Anthera

07:30
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Initiation
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