Crane price target raised to $120 from $97 at UBS

UBS raised the firm’s price target on Crane to $120 from $97 and keeps a Neutral rating on the shares. Wednesday, the company announced that it has acquired Vian Enterprises for $103M. In a research note on Friday, the firm said it thinks the deal, albeit relatively small, represents a good first step in demonstrating the company’s M&A potential in A&D markets. UBS views this as important for maintaining the stock’s premium valuation following substantial re-rating since the Apr-23 separation, with expectations around rising A&D exposure one of the drivers.