Bank of America Analyst Expects Long-Term Upside for Crane Co, Raises Price Target

Bank of America's Ronald Epstein raised their price target on Crane Co (NYSE: CR) by 17.9% from $140 to $165 on 2024/05/29. The analyst maintained their Strong Buy rating on the stock.

Epstein cited the company's fundamentally robust portfolio, ample opportunities for mergers and acquisitions, and high demand as the basis for their positive outlook. They also highlighted Crane Co's strategy of investing in technology capabilities without focusing on individual initiatives, which they believe will result in long-term upside.

In addition to their rating on Crane Co, Epstein made adjustments to price targets on other stocks in their portfolio. They lowered the price target on Albany International Corp by -5.3% from $95 to $90, while maintaining their Sell rating. Meanwhile, Epstein raised the price target on Transdigm Group Inc by 11.5% from $1,310 to $1,460, also maintaining their Strong Buy rating.

According to data from WallStreetZen, 100% of top-rated analysts currently rate Crane Co as a Strong Buy or Buy. No analysts consider it a Hold, and there are no recommendations to sell the stock. This strong consensus among analysts reflects the positive sentiment towards Crane Co's future prospects.

Looking at the stock's performance, Crane Co has seen a 6.3% increase in its price since its last quarterly report on March 31, 2024. On a year-over-year basis, the stock has surged by an impressive 89.7%. During this period, Crane Co has outperformed the broader market, with the S&P 500 seeing a 25.2% increase.

Ronald Epstein, the Bank of America analyst behind the rating and price target adjustments, holds a favorable position among Wall Street analysts. Ranked in the top 20% out of 4,593 analysts by WallStreetZen, Epstein has an average return of 3.7% and a win rate of 50.5%. Their expertise lies in the Technology, Industrials, and Consumer Cyclical sectors.

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WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.