Jefferies initiates Crane NXT at 'buy' on margin expansion potential
CXT•Jefferies starts Crane NXT at buy
Jefferies initiates authentication technology firm Crane NXT CXT.N with a buy rating and a $60 price target.
The PT implies 31.1% upside from the stock's last close.
Margin expansion seen through 2028
The brokerage sees operational improvements, favorable currency mix and acquisition synergies driving the company's adjusted EBITDA margins to the mid-20% range by 2028.
Jefferies said Crane NXT's high barriers to entry are underappreciated by investors, while ongoing operational improvements should help sustain margins near 24% through 2028.
Brokerage sentiment and recent share performance
7 of 8 brokerages rate the stock buy or higher, with 1 hold; their median PT is $65.87, data compiled by LSEG.
As of the last close, the stock had fallen 2.8% year to date.
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