UPDATE: Topeka Capital Markets Reiterates Hold Rating, Raises PT on Crane Company

In a report published Wednesday, Topeka Capital Markets reiterated its Hold rating on Crane Company (NYSE: CR), and raised its price target from $44.00 to $53.00.Topeka Capital Markets noted, “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. Further details in our report.”Crane Company closed on Tuesday at $50.23.