On June 25, Charles River Laboratories rose 5.09% in regular trading, trading at $207.15/share, with turnover of $39.09 million. This marks a second consecutive session of gains following a 6.55% advance the prior day.

On the news front, the company recently held its annual report conference where management emphasized that the book-to-bill ratio has continued to improve since Q3, and the biotech funding environment has significantly recovered, driving demand higher. Morgan Stanley upgraded Charles River from equal weight to overweight and raised its price target from $185 to $220. RBC Capital Markets also maintains an outperform rating with a $215 target, citing potential for the company to outperform expectations in H2. The FactSet consensus analyst target price stands at $220.29, suggesting further upside from current levels.

Fundamental support includes Q1 adjusted EPS of $2.06 beating the $1.94 estimate, revenue of $995.8 million surpassing the $977.5 million consensus, and maintained full-year adjusted EPS guidance of $10.80 to $11.30.

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