DA Davidson Reiterates Buy Rating on Crane NXT (CXT)

DA Davidson analyst Matt Summerville reiterated a Buy rating and $85.00 price target on Crane NXT (NYSE: CXT).

The analyst commented, "This week we hosted investors at Crane NXT’s micro-optics manuf. facility in Nashua, NH, and came away incrementally bullish on Currency’s technological moat, while backlog, win rates, and tender activity levels all are at historical highs as CXT embarks upon a doubling of capacity between this facility and Malta. Denominational mix continues to trend higher globally, micro-optic features are becoming even more technologically advanced with average widths also on the rise, all driving content/ note higher as Currency remains CXT’s most attractive/durable organic growth engine. BUY/$85 PT."

For an analyst ratings summary and ratings history on Crane NXT click here. For more ratings news on Crane NXT click here.

Shares of Crane NXT closed at $45.29 yesterday.

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