Charles River Laboratories to Provide Update on New Approach Methodologies Strategy on Investor Day, RBC Says
Charles River Laboratories (CRL) is expected to provide an update on its New Approach Methodologies strategy at its investor day next week, RBC Capital Markets analysts said in a Wednesday note.The European Medicines Agency's pilot program to validate and accept New Approach Methodologies is a "meaningful structural positive," analysts said.RBC expects the company to also provide details on its long-range plan, with detailed growth and margin targets. It expects mid-to-high single-digit growth and margin expansion through 2029.Analysts said they are on the lookout for details on the company's capital allocation, including commentary on accretive growth-oriented mergers and acquisitions in the near term, Discovery and Safety Assessment capacity in China, and the pace of further buybacks.RBC retained an outperform rating and a $282 price target on the stock.Price: $273.08, Change: $+0.20, Percent Change: +0.07%