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Fly News Breaks for December 30, 2019
CIR, CR
Dec 30, 2019 | 15:46 EDT
Stifel analyst Nathan Jones maintained a Buy rating and $96 price target on Crane (CR) following the company's confirmation it entered into an agreement to acquire Circor's (CIR) Instrumentation & Sampling Business for $172M. The analyst noted that there is limited details on synergies and accretion, but he believes that Crane "likely sees significant synergies between the Instrumentation and Sampling businesses and its current portfolio," and the analyst sees the acquisition being "accretive to both earnings and cash flow in 2020."
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