Northland Upgrades Crane NXT (CXT) to Outperform, 'Valuations Matter And CXT's Doesn't Make Sense'
Northland analyst Bobby Brooks upgraded Crane NXT (NYSE: CXT) from Market Perform to Outperform, PT $10.00.
The analyst comments "When we downgraded CXT to a market perform in February 2025 it was because of a lack of catalysts. We also explicitly wrote how we viewed CXT as a high-quality industrial tech company with ultra-wide moats - a view we continue to hold. Today, we are upgrading it because 1) a compressed valuation that does not reflect the business fundamentals and 2) we think the release of the new $10 bill could serve as a catalyst to shift investor sentiment. Our $52 PT is based on 9x our FY27 adj. EBITDA."
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Shares of Crane NXT closed at $39.79 yesterday.