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Fly News Breaks for March 6, 2017
CR
Mar 6, 2017 | 06:22 EDT
BofA/Merrill analyst Kristine Liwag upgraded Crane to Buy and raised its price target to $90 from $80 to reflect increased Fluid Handling margins. The analyst came away from Crane's Annual Investor Conference with increased confidence in Crane's operating leverage in its Fluid Handling segment and said it is a significant beneficiary of an industrial recovery. Liwag had largely under-appreciated the effect of cost cutting initiatives in the segment and said management continues to optimize footprint to cut costs.
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