U.S. stocks retreat sharply on waning rate cut bets; tech sector under pressure
Investing.com - UBS has reiterated its Neutral rating and $62.00 price target on Crane NXT (NYSE:CXT), currently trading at $63.60, despite the stock’s 15% rally following news of the Federal Reserve’s 2026 currency print order. According to InvestingPro data, CXT has surged 14% in the past week and is now trading near its 52-week high of $67.00.
Crane NXT subsequently issued a press release stating it expects high-single-digit revenue growth in 2026 for its US Currency business, which follows the Federal Reserve’s announcement of its currency printing plans. This projection aligns with the company’s current growth trajectory, as InvestingPro analysis shows an 8% revenue growth forecast for FY2025.
UBS analyst Damian Karas expressed surprise at the magnitude of the stock rally, noting that while there are some positives—mainly better denomination mix—the Bureau of Engraving and Printing order is overall disappointing relative to expectations.
UBS is currently modeling US Currency sales to rebound 16% year-over-year in 2026, following an approximately 18% year-over-year decline in 2025.
The firm suggests the strength of the rally might reflect the high level of short interest in the stock rather than fundamentals, adding that most investors have expected a double-digit inflection in US Currency after what is anticipated to be a very challenging 2025.
In other recent news, Crane NXT has announced its expectations for high single-digit revenue growth in its U.S. Currency business by 2026, driven by an increase in demand for higher denomination banknotes. This projection follows the Federal Reserve Board’s 2026 print order, which anticipates a significant rise in higher denomination banknotes, such as $10, $20, $50, and $100 bills. Additionally, Crane NXT has signed agreements to acquire Antares Vision S.p.A., a company specializing in inspection and track & trace technologies, for an enterprise value of €445 million. This acquisition will begin with the purchase of a 30% stake, with plans to eventually take the company private.
Analyst firm DA Davidson has reiterated its Buy rating for Crane NXT, maintaining a price target of $85.00, citing the favorable denominational mix in the Federal Reserve’s print order. In contrast, UBS has maintained a Neutral rating on Crane NXT, with a price target of $62.00, following the Antares Vision acquisition announcement. The acquisition deal includes an initial purchase price of €5.00 per share, representing a premium over Antares Vision’s previous closing price. These developments highlight Crane NXT’s strategic efforts to expand its business operations and capitalize on emerging market opportunities.
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