Analyst Josh Sullivan of Benchmark Co. maintained a Buy rating on Carpenter Technology (CRS – Research Report), with a price target of $250.00.
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Josh Sullivan’s rating is based on Carpenter Technology’s impressive recovery and transition into a phase focused on cash generation and yield. Despite recent market fluctuations, the company has demonstrated strong momentum, evidenced by its increased FY25 operating income guidance and robust free cash flow projections. Sullivan anticipates a promising financial outlook, supported by the company’s strategic initiatives and stability in demand within aerospace and defense sectors. Additionally, the company’s ability to raise FY25 guidance ahead of market expectations and its strong performance in key segments underline its growth potential. Sullivan believes the market has underestimated CRS’s capabilities, especially considering its historical cycles that lacked the current stability and supply control. The projected medium-term free cash flow and operating income growth suggest a strong trajectory, making Carpenter Technology a compelling investment opportunity.
In another report released on January 31, Deutsche Bank also maintained a Buy rating on the stock with a $288.00 price target.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRS in relation to earlier this year.