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Carpenter Technology initiated with a Buy at BTIG

Carpenter Technology initiated with a Buy at BTIG

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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