Imperial Capital Starts Crane (CR) at Outperform, $68 PT
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Price: $208.41 +0.92%
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Imperial Capital initiates coverage on Crane (NYSE: CR) with a Outperform. PT $68.00.
Analyst Ken Herbert comments, "Near term, we believe the pending acquisition of MEI Conlux, announced in December 2012, will be a positive catalyst. We do not believe estimates fully reflect the expected upside from this potential acquisition. We also believe the shares should benefit from margin upside in 2013-2014, reflecting the benefits of recent restructuring and efficiency measures. We believe guidance reflects a slower than expected recovery in commercial aerospace aftermarket spares sales, which should provide more upside in 2014."
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 $57.51 yesterday.
Analyst Ken Herbert comments, "Near term, we believe the pending acquisition of MEI Conlux, announced in December 2012, will be a positive catalyst. We do not believe estimates fully reflect the expected upside from this potential acquisition. We also believe the shares should benefit from margin upside in 2013-2014, reflecting the benefits of recent restructuring and efficiency measures. We believe guidance reflects a slower than expected recovery in commercial aerospace aftermarket spares sales, which should provide more upside in 2014."
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 $57.51 yesterday.
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