UPDATE: Cowen Downgrades Carpenter Technology (CRS) to Market Perform

August 13, 2020 5:36 AM EDT
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Price: $37.48 -0.32%

Rating Summary:
    3 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - August 13, 2020 6:39 AM EDT)

(updated to add analyst comments)

Cowen analyst Gautam Khanna downgraded Carpenter Technology (NYSE: CRS) from Outperform to Market Perform, price target $27.00.

The analyst commented, "CRS faces an extended de-stock from excessive jet engine inventory, & incrementally, pricing pressure will intensify from challenged competitors in "spot" markets. These factors are apt to keep a lid on the stock."

For an analyst ratings summary and ratings history on Carpenter Technology click here. For more ratings news on Carpenter Technology click here.

Shares of Carpenter Technology closed at $23.97 yesterday.

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