Carpenter Technology price target raised to $230 from $210 at BTIG

BTIG analyst Andre Madrid raised the firm’s price target on Carpenter Technology (CRS) to $230 from $210 and keeps a Buy rating on the shares. The company reported record profitability despite pressured volumes associated with the Boeing labor strike, and the firm contends that the post-earnings sell-off is “overdone” as Carpenter reported record margins and the second highest operating income on record despite 11% lower volumes, the analyst tells investors in a research note.