Crane Co

CR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$744.00	Wsxcw	Djcqfdgmn

Crane Earnings: Strong Results in Both Core Segments Reaffirm Our Confidence in Long-Term Targets

Krzysztof Smalec

Oct 24, 2023

We are raising our fair value estimate for narrow-moat-rated Crane to $92 per share from $87 after the company reported strong third-quarter results. Management increased its full-year guidance for the third time this year and now anticipates 2023 core sales growth of 6%-8% (up from 5%-7%) and adjusted EPS of $4.05-$4.20 (up from $3.80-$4.10). The fair value estimate adjustment reflects our slightly higher near-term revenue growth and operating margin projections.

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