Crane Co

CR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$776.00	Fmvsw	Tmglvbpz

Crane Earnings: Expecting Aerospace & Electronics To Carry Solid Momentum Into 2024

Krzysztof Smalec

Jan 30, 2024

Narrow-moat-rated Crane finished 2023 on a strong note, as its full-year sales of $2.09 billion and adjusted EPS of $4.29 both came in above our expectations of $2.08 billion and $4.20, respectively. After rolling our model forward one year, we've raised our fair value estimate to $100 from $92, driven by our slightly more optimistic midcycle operating margin expectations as well as time value of money.

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