Auriga Maintains a 'Buy' on Crane (CR); Strong Revs Offset by Margin Headwinds
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Price: $218.34 -0.32%
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Buy' on Crane (NYSE: CR) price target revised to $53.00.
Analyst, Mike Callahan, said, "Crane Co. reported 1Q EPS of $0.88, which was slightly behind Street expectations as margin headwinds more than offset a nice revenue beat in the quarter. As a result, shares pulled back 7% leaving more than 20% upside to our revised price target of $53. While we recognize margin concerns, we believe the sell-off was largely overdone, particularly as it overlooks a strong demand environment. We are reducing our price target to $53 (from $56), as we adjust our estimates to reflect softer margin assumptions. Given better-than-expected top line performance and our expectation for full-year EPS growth of 12%, we maintain our rating."
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 $43.69 yesterday.
Analyst, Mike Callahan, said, "Crane Co. reported 1Q EPS of $0.88, which was slightly behind Street expectations as margin headwinds more than offset a nice revenue beat in the quarter. As a result, shares pulled back 7% leaving more than 20% upside to our revised price target of $53. While we recognize margin concerns, we believe the sell-off was largely overdone, particularly as it overlooks a strong demand environment. We are reducing our price target to $53 (from $56), as we adjust our estimates to reflect softer margin assumptions. Given better-than-expected top line performance and our expectation for full-year EPS growth of 12%, we maintain our rating."
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 $43.69 yesterday.
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