Goldman downgrades Charles River Labs (CRL -1.7%) to Sell from Neutral and lowers its price target to $38 from $44. Analyst Robert Jones cites (among other factors) "recent … channel checks [which] indicate still subdued early-stage spend and excess capacity as pharma prioritizes late-stage pipelines."
Charles River Labs (CRL -1.6%) slips on a Raymond James downgrade to Underperform from Market Perform. When asked about the move on CNBC earlier, Cramer said he doesn't agree. In the same segment, the Mad Money host called Guess' (GES +9%) Q1 "horrendous, but not horrendous enough" to keep the shares from rallying. (See also: GES earnings rundown)
Charles River Labs (CRL +3.2%) moves higher on a couple of upgrades earlier today. JPMorgan raises its rating on the shares to Overweight, saying the risk-reward is looking good going into 2013. The firm notes that longer term questions still remain, but given the improving fundamentals, ongoing cost discipline and a 10% free cash flow yield, the stock looks attractive at current levels. Separately, Wells Fargo also upped the shares to Outperform on valuation, saying that that guidance looks conservative with the midpoint only 5% below consensus.