Crane price target raised to $140 from $110 at BofA

BofA analyst Ronald Epstein raised the firm’s price target on Crane to $140 from $110 and keeps a Buy rating on the shares. Crane is demonstrating the potential that can be unlocked from a leaner, well-funded, and more focused company in its first eight months as a stand-alone company and stand-alone Crane is “only just getting started,” the analyst tells investors. The company’s pricing and cost reduction strategy resulted in adjusted operating margins increasing 320 basis points year-over-year and the firm anticipates this pricing and cost strategy to lift margins another greater than 100 points in 2024, the analyst added.