Crane price target lowered to $105 from $140 at BofA

BofA lowered the firm’s price target on Crane to $105 from $140 and keeps a Buy rating on the shares following Crane’s spin of its payments and merchandising business. The firm now sees Crane as a more focused company set to benefit from tailwinds in Aerospace & Defense and believes Crane’s leaner, more focused portfolio, and stronger capital position, will allow it to pursue inorganic growth and investments in differentiated technologies, the analyst tells investors.