Crane NXT initiated with an Outperform at Baird

Baird initiated coverage of Crane NXT with an Outperform rating and $77 price target The firm sees “an attractive earnings growth profile,” driven by higher-growth markets serving authentication, security and validation needs and significant M&A activity, augmented by a long-standing, stable customer base. The firm, which says it would be buyers of Crane NXT ahead of anticipated end market inflection that should help support differentiated earnings growth in 2026 and beyond, sees “upside potential to $105-135+/sh over the next 2-2.5 years,” inclusive of M&A.