JPMorgan analyst Bennett Moore raised the firm’s price target on Carpenter Technology (CRS) to $235 from $220 and keeps an Overweight rating on the shares. The firm also placed the shares on “Positive Catalyst Watch” ahead of the fiscal Q2 report on January 30. The company’s fiscal 2025 guidance will be raised in the next two quarters as management gains confidence in the trajectory of Boeing’s ramp, the analyst tells investors in a research note. JPMorgan also expects Carpenter’s updated long-term guidance in parallel with recent management commentary suggesting another “meaningful step up” in fiscal 2026. It feels the stock’s risk/reward is skewed to the upside “given significant barriers to entry cementing the company’s role as an indispensable supplier for years to come.”
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Read More on CRS:
- Carpenter Technology price target raised to $250 from $215 at Deutsche Bank
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