UPDATE: Cowen Downgrades Carpenter Technology (CRS) to Market Perform
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(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."
Shares of Carpenter Technology closed at $23.97 yesterday.
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