UBS Maintains a 'Buy' on Crane (CR); Operating Issues Overshadowing Revenue, Backlog Strength
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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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UBS maintains a 'Buy' on Crane (NYSE: CR) price target lowered from $55 to $50.
Analyst, Robert Barry, said, "Q1 EPS of $0.88 missed the Street’s $0.91 and our $0.95...Our take on 1Q: operating issues overshadow revenue, backlog strength...Shares fell 7% post the weak 1Q but our estimates fall more modestly as growing revenue momentum is expected to offset N/T margin pressures, so we think valuation continues to support a Buy rating on our 12-month view, even after shaving 50bp off our target multiple to reflect more operational risk. We think backlog momentum in late cycle segments and signs of operational improvements in Fluid will be key catalysts, but likely require a couple quarters of patience."
FY12 EPS estimate cut from $4.00 to $3.88 and FY13 from $4.42 to $4.31.
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, Robert Barry, said, "Q1 EPS of $0.88 missed the Street’s $0.91 and our $0.95...Our take on 1Q: operating issues overshadow revenue, backlog strength...Shares fell 7% post the weak 1Q but our estimates fall more modestly as growing revenue momentum is expected to offset N/T margin pressures, so we think valuation continues to support a Buy rating on our 12-month view, even after shaving 50bp off our target multiple to reflect more operational risk. We think backlog momentum in late cycle segments and signs of operational improvements in Fluid will be key catalysts, but likely require a couple quarters of patience."
FY12 EPS estimate cut from $4.00 to $3.88 and FY13 from $4.42 to $4.31.
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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