UPDATE: Topeka Capital Markets Raises PT to $53 on Crane Company on Improving Top-Line
Topeka Capital Markets reiterated its Hold rating on Crane Company (NYSE: CR) and raised the price target from $44.00 to $53.00.
Topeka Capital Markets commented, "Crane Co. adjusted 4Q EPS was roughly in-line with expectations on higher margins, while revenue was softer-than-expected. Following earnings, we are increasing our price target to $53, from $44, but remain on the sidelines as we believe top-line pressure is likely to limit upside from here."
Crane Company closed at $50.23 on Tuesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.