JPMorgan upgraded Charles River Laboratories from neutral to overweight and raised its 12-month price target from 180 to 310 dollars, implying 19% upside potential. The company posted second-quarter earnings of 3.02 dollars per share, beating the consensus estimate of 2.74 dollars, with revenue of 1 billion dollars exceeding expectations of 977.2 million. It also raised its 2026 earnings guidance to a range of 11.15 to 11.45 dollars. Global biotech funding reached 11.9 billion dollars across 88 deals in the first half of the year, up from 8 billion across 64 deals a year earlier, supporting Charles River’s business as its shares surged more than 43% over the past three months.
Source: Read the original article
