BUZZ – Jefferies initiates coverage on Crane NXT with a “Buy” rating, highlighting its potential for margin expansion

September 22 - ** Jefferies initiates coverage on identity authentication technology company Crane NXT (CXT.N) with a "Buy" rating and a target price of $60

** This target price represents a 31.1% upside from the stock’s most recent closing price

** The brokerage believes that operational improvements, favorable currency structure, and synergies from acquisitions will drive the company's adjusted EBITDA margin to the mid-20% range before 2028

** Jefferies points out that investors have not yet fully recognized Crane NXT's high barriers to market entry, while continued operational improvements should help maintain margins at around 24% through 2028

** Of the 8 brokerages, 7 rate the stock as "Buy" or higher, and 1 rates it as "Hold"; the median target price is $65.87—data compiled by LSEG

** As of the previous trading day’s close, the stock is down 2.8% year-to-date

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