Crane initiated with a Buy at DA Davidson

DA Davidson initiated coverage of Crane with a Buy rating and $90 price target following the spinoff from Crane Holdings. Crane is a "top-tier" industrial technology franchise with a "best-in-class" commercial aerospace/defense portfolio and a "strong" harsh environment process valve business, the analyst tells investors in a research note. The firm says Crane possesses among the most attractive and highest quality commercial aerospace and defense businesses among other publicly-traded SMID-cap multi-industry/industrial tech names.