KeyBanc Upgrades Carpenter Technology Corporation (CRS) On Strengthening Aerospace Opportunity amid Higher Pricing

Carpenter Technology Corporation (NYSE:CRS) is one of the best 52-week high stocks to buy right now. Carpenter Technology Corporation (NYSE:CRS) commands a consensus Buy rating from 6 Wall Street analysts, with 6 Buy ratings. The average price target for the stock is $389.67, implying 23.81% upside from the current level of $314.74.

KeyBanc Upgrades Carpenter Technology Corporation (CRS) On Strengthening Aerospace Opportunity amid Higher Pricing

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On November 20, the company closed a $700 million offering of 5.625% senior notes due 2034. The public offering bolstered the company’s financial position by enabling it to redeem its 6.375% senior notes due 2028 and 7.625% notes due 2030.

The $700 million offering comes on the heels of KeyBanc upgrading Carpenter Technology to an Overweight with a $380 price target. The positive stance also comes amid expectations that strong pricing, favorable product mix, and effective cost control will drive the company’s performance next year.

The research firm has noted three 5-year-long-term agreements at 10% higher prices, along with ongoing strength in transactional pricing, which are expected to drive financial performance. Consequently, operating income is expected to exceed expectations in 2026 and 2027 as Boeing 737/MAX production resumes.

Carpenter Technology Corporation (NYSE:CRS) is a global provider of high-performance specialty alloys and advanced materials for critical applications. The company manufactures premium specialty alloys, including nickel- and cobalt-based superalloys and stainless steels, and offers process solutions such as additive manufacturing and custom-engineered products.

While we acknowledge the potential of CRS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.