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Crane Co T.CR


Primary Symbol: CR Alternate Symbol(s):  CXT

Crane Company is a manufacturer of engineered components for mission-critical applications focused on the aerospace, defense, space and process flow industry end markets. Its segments include Aerospace & Electronics, Process Flow Technologies, and Engineered Materials. The Aerospace & Electronics segment supplies critical components and systems, including original equipment and aftermarket parts, primarily for the commercial aerospace, and the military aerospace, defense and space markets. The Process Flow Technologies segment is a provider of engineered fluid handling equipment for critical applications. The Engineered Materials segment manufactures fiberglass-reinforced plastic panels and coils, primarily for use in the manufacturing of recreational vehicles, truck bodies and trailers (Transportation). It also designs and manufacturers multi-stage lubrication pumps and lubrication system components technology for critical aerospace and defense applications.


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Post by gonatgasgoon Dec 14, 2022 11:40am
221 Views
Post# 35170987

Scotia Capital

Scotia Capital

2022-12-12 07:45 ET - In the News

 

The Globe and Mail reports in its Saturday, Dec. 10, edition that Scotia Capital analyst Cameron Bean has reiterated his "sector outperform" recommendation for Crew Energy. The Globe's David Leeder writes that Mr. Bean reduced his share target to $10 from $10.50.

Analysts on average target the shares at $8.82. Mr. Bean says in a note: "We expect Crew's 2023 guidance and new four-year plan to receive a negative initial reaction from the market. The company's plan to ramp capital spending (likely above cash flow in 2024 and 2025) and double production by 2026 runs contrary to the E&P sector mantra of capital discipline and maximizing cash distributions to shareholders. While Crew Energy successfully executed on its previous two-year plan, the new plan significantly ups the ante.

The ambitious nature of the plan gives us pause; however, as we previously noted, Crew Energy showed significant operational improvement over the course of its previous growth program. Given these improvements, we are inclined to stick with the stock and believe the plan to continue growing may put Crew Energy ahead of the curve as the sector moves forward. Nevertheless, the company's plan injects new risk into the story."

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