BTIG initiated coverage of Carpenter Technology with a Buy rating and $120 price target. Carpenter, . unlike other materials companies, operates in “niche corners” of the aerospace, defense, and medical end-markets, the analyst tells investors. The company has focused less on market share and more on capturing valuable customer content, enabling robust margins and expansion of free cash flow conversion, the analyst added.
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Read More on CRS:
- Carpenter Technology downgraded to Sell from Neutral at Northcoast
- Carpenter Technology price target raised to $125 from $116 at TD Cowen
- Carpenter Technology price target raised to $140 from $100 at Benchmark
- Carpenter Technology management to meet virtually with Benchmark
- Carpenter Technology downgraded to Neutral from Buy at Northcoast
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