Carpenter Technology's stock surged 5.32% during intraday trading on Friday, following a series of positive analyst actions that boosted investor sentiment.
The rally was fueled by multiple Wall Street firms expressing increased optimism about the company's prospects. Deutsche Bank raised its price target on Carpenter Technology to $437 from $425, while JP Morgan increased its target to $394 from $388. Additionally, BTIG maintained its Buy rating on the stock.
Analysts cited strengthening aerospace demand and pricing power in nickel-alloy markets as key drivers for the company's multi-year earnings potential, with TD Cowen maintaining a Buy rating based on these favorable industry dynamics.
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