💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Crane +3% after Stifel upgrades to Buy

Published 01/31/2018, 03:39 PM
© Reuters.  Crane +3% after Stifel upgrades to Buy
CR
-
  • Crane (CR +3.2%) pushes ahead to a 52-week high after Stifel analysts upgrades shares to Buy from Hold with a $113 price target, raised from $99, citing CR's operational performance, strategic and disciplined capital allocation, market judgement and pivot to growth.
  • Stifel says CR's emerging track record, earnings growth profile and cash generation deserve a premium multiple, and the company's decision to accelerate growth investments by redeploying part of tax savings over the next two years to help drive accelerated organic growth is another example of management's willingness to put hard dollars to work to drive growth.
  • Stifel also expects CR's new restructuring program to add $0.10 to earnings per share in 2018 and at a run rate of $0.35 by 2020.
  • Now read: Crane Co. 2017 Q4 - Results - Earnings Call Slides


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.