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Fly News Breaks for October 30, 2019
Oct 30, 2019 | 07:49 EDT
As reported previously, Canaccord analyst Ken Herbert downgraded Crane to Hold from Buy. The analyst noted the company missed his estimates on both the top and bottom lines.Management dropped its outlook for 2019 and 2020 as its Crane Currency sales to the U.S. Government fell. Management remains confident that it will see a return to normal buying in its Crane Currency business, but the analyst will wait for better visibility. Herbert lowered his price target to $85 from $105 on Crane shares.
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