BUZZ-BofA lifts Crane Co PT on strong portfolio, potent demand
Reuters · 05/29 13:26
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** Bofa lifts PT of aerospace and defense parts manufacturer Crane Co CR.N to $165 from $140, reiterates "buy" rating
** Cites co's "fundamentally strong portfolio, ample opportunity for M&A, and potent demand"
** Sees outsized growth in co's aerospace & electronics segment driven by strong commercial aero and defense demand
** Notes upside to co's process flow technologies segment owing to starts on investments from Bipartisan Infrastructure law, and early signs of recovery in the industrial space
** Two brokerages rate the stock "strong buy", five "buy" and one "hold"; their median PT is $160 - LSEG data
** Stock had risen ~23% YTD
(Reporting by Aatreyee Dasgupta)
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