Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - BTIG raised its price target on Carpenter Technology (NYSE:CRS) to $365 from $305 while maintaining a Buy rating on the stock following the company’s latest earnings report. According to InvestingPro data, analyst targets now range from $305 to $375, with the stock currently trading at $314.21.
The specialty metals producer saw its shares close up 22.7% last Thursday, significantly outperforming the S&P 500’s 0.6% gain, after reporting record quarterly profits.
Carpenter Technology’s adjusted Specialty Alloys Operations (SAO) margins expanded to 32.0% despite downtime related to planned maintenance events during the quarter.
BTIG noted that concerns about potential pricing pressure and discounting in the spot market were effectively dispelled by the strong results and optimistic management commentary.
The research firm believes fundamentals remain robust for Carpenter Technology, with pricing at elevated levels that will likely persist as long as the current demand environment continues.
In other recent news, Carpenter Technology Corporation reported impressive financial results for the first quarter of fiscal year 2026. The company exceeded market expectations with an earnings per share (EPS) of $2.43, surpassing the forecasted $2.12. Revenue also outperformed projections, reaching $733.7 million compared to the anticipated $699.67 million. These results highlight Carpenter Technology’s strong performance and strategic execution. While the stock price movement was noteworthy, it is not the focus here. Analyst firms have yet to provide any recent upgrades or downgrades following this announcement. Investors may find these developments significant as they reflect the company’s current financial health. These recent results underscore the company’s ability to surpass market predictions.
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