UBS analyst Damian Karas raised the firm’s price target on Crane (CR) to $215 from $190 and keeps a Buy rating on the shares. Crane announced an agreement to acquire the Precision Sensors & Instrumentation business from Baker Hughes (BKR) for $1.15B in cash, the analyst tells investors in a research note. The firm has been increasingly anticipating Crane’s first “big deal.”
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Read More on CR:
- Crane price target raised to $226 from $187 at Deutsche Bank
- Crane Company’s Strategic Acquisition of PSI Enhances Growth and Boosts Buy Rating
- Crane Company Acquires PSI for $1,060 Million
- Crane to buy Precision Sensors & Instrumentation from Baker Hughes for $1.06B
- Baker Hughes to sell PSI product line to Crane for $1.15B