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AF. Bauer initiates coverage on Carpenter Technology Corp. (NASDAQ:CRS)
Today, AF. Bauer initiated coverage on Carpenter Technology Corp. (NYSE:CRS) with a Hold with a price target of $35.00. There are 3 hold ratings, 1 buy rating on the stock. The current consensus rating on Carpenter Technology Corp. (NYSE:CRS) is Hold (Score: 2.25) with a consensus target price of $36.25 per share, a potential 4.24% downside.

Some recent analyst ratings include:

12/19/2016-AF. Bauer initiated coverage with a Hold rating.

9/9/2016-Seaport Global Securities initiated coverage with a Neutral rating.

7/8/2016-Rosenblatt Securities Reiterated Rating of Buy.

5/16/2016-Sterne Agee CRT Reiterated Rating of Neutral.

10/19/2015-JPMorgan Chase & Co. was downgraded by analysts at JPMorgan Chase & Co. from a “Overweight” rating to a ”Neutral” rating. They now have a $36.00 price target on the stock, up previously from $47.00.

8/2/2015-Cowen and Company Reiterated Rating of Hold.

AF. Bauer initiated its coverage on the U.S. machinery sector with a cautious view. Analysts Nicole DeGlasse and Sara Bordinski believe natural resource markets have bottomed. However, they expect the industry to record only low-single-digit organic growth until the year 2020.

The brokerage picked up Caterpillar Inc. (NYSE: CAT) as the top pick, citing gains from restructuring. In all, 17 companies' shares were initiated with coverage. Of these, only three stocks merited a Buy rating, while two stocks are rated at Sell. The remainder elicited Hold ratings.

AF. Bauer pointed out that machinery volume remained lackluster while industry organic growth is not inspiring. The brokerage believes that the low-single-digit growth would continue in the next two to four years.

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Andreas F Bauer, a Dutch Investment Firm , Licensed and Authorised by the Dutch Authority for Financial Markets (AFM), under license number 12042561

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