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Investing.com - Oppenheimer raised its price target on Crane NXT (NYSE:CXT) to $80.00 from $70.00 on Wednesday, while maintaining an Outperform rating on the stock. The company, currently trading at $66.89 and near its 52-week high of $69, has demonstrated strong momentum with a 50.57% return over the past six months. According to InvestingPro analysis, the stock appears fairly valued based on its proprietary Fair Value model.
The research firm expects in-line third-quarter results when Crane NXT reports on November 5, with Security and Authentication Technologies projected to deliver solid double-digit percentage growth, driven by international currency and the Crane Authentication business following the De La Rue Authentication acquisition that closed on May 1. The company has maintained strong financial performance, with a 10.28% revenue growth and healthy profit margins of 43% in the last twelve months.
Oppenheimer noted that the CPI business has begun to recover as excess inventory in the high-margin gaming end-market has normalized, with CPI expected to grow low single-digit percentage in the second half of 2025.
The outlook for 2026 has improved significantly, according to the research firm, driven by a large and high-margin currency order from the Federal Reserve/Bureau of Engraving and Printing as it launches the new $10 note and moves past the post-COVID production slowdown in high-denomination bills.
Oppenheimer’s price target increase reflects several positive factors including tailwinds in US and international currency, end-market stabilization in CPI, and the accretive Antares Vision acquisition. With a market capitalization of $3.84 billion and a P/E ratio of 21.91x, the company maintains a "GOOD" overall financial health score according to InvestingPro, which offers additional exclusive insights and detailed analysis in its comprehensive Pro Research Report.
In other recent news, Crane NXT announced expectations for high single-digit revenue growth in its U.S. Currency business by 2026. This projection is attributed to an increased demand for higher denomination banknotes, following the Federal Reserve’s 2026 currency print order. The order anticipates banknote demand ranging from 3.8 billion to 5.1 billion, with a significant rise in higher denomination notes. Additionally, Crane NXT has agreed to acquire Antares Vision, a company specializing in inspection and detection technologies, for 5 Euros per share, equating to an enterprise value of 445 million Euros. This acquisition offer includes a premium over Antares Vision’s previous closing price of 4.80 Euros.
In analyst updates, DA Davidson reiterated its Buy rating on Crane NXT, setting a price target of $85.00, citing the Federal Reserve’s print order as a positive factor. Conversely, UBS maintained its Neutral rating with a $62.00 price target, despite the Federal Reserve’s announcement and Crane NXT’s subsequent revenue growth expectations. In leadership news, Crane NXT appointed Kim DiMaurizio as Senior Vice President and Chief People Officer, where she will oversee global human resources strategies. These developments reflect Crane NXT’s strategic moves and analyst perspectives in the current market landscape.
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