BofA lifts Crane Co PT on strong portfolio, potent demand

Crane

29/05/2024 14:26

** 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 new 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)
 ((Aatreyee.Dasgupta@thomsonreuters.com))