UBS Q2 Preview on Crane (CR); Looking For In-line Results, Despite Pressure From Europe
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Price: $59.56 -0.23%
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CR Now!
UBS maintains a 'Buy' on Crane (NYSE: CR) price target of $45.00 (from $50.00).
Analyst, Robert Barry, said, "We think 2Q is in line at $0.94, despite incremental FX, Europe pressure...We think a strong, well-priced backlog going into 2Q in the core Fluid and Aero businesses (75% sales) offset some incremental FX and Europe pressure for an in line 2Q."
Barry cuts FY12 EPS estimate from $3.88 to $3.82 and FY13 from $4.31 to $4.28. He sees Q3 pressured by FX, Europe turning weaker for 2H bookings and revenues. However, he does believe the company can achieve the low end of its 2012 guidance (range $2.75-$2.95)
For an analyst ratings summary and ratings history on Crane click here. For more ratings news on Crane click here.
Shares of Crane closed at $38.19 yesterday, with a 52 week range of $33.23-$52.38.
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Analyst, Robert Barry, said, "We think 2Q is in line at $0.94, despite incremental FX, Europe pressure...We think a strong, well-priced backlog going into 2Q in the core Fluid and Aero businesses (75% sales) offset some incremental FX and Europe pressure for an in line 2Q."
Barry cuts FY12 EPS estimate from $3.88 to $3.82 and FY13 from $4.31 to $4.28. He sees Q3 pressured by FX, Europe turning weaker for 2H bookings and revenues. However, he does believe the company can achieve the low end of its 2012 guidance (range $2.75-$2.95)
For an analyst ratings summary and ratings history on Crane click here. For more ratings news on Crane click here.
Shares of Crane closed at $38.19 yesterday, with a 52 week range of $33.23-$52.38.
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