CR - Better-Than-Feared Numbers Boost Crane
Crane’s (CR) fourth quarter performance and guidance for 2019 were by no means flawless, but Wall Street is an expectations machine in the short term, and with the shares having sold off about 20% since my last update (underperforming industrials in general), it’s pretty clear that expectations for this conglomerate were deteriorating. I do have some concerns still that management may be too bullish about the prospects for the “general industrial” end-markets in 2019, but healthy chemical, process, and aerospace end-markets should help and I think expectations are at a reasonable level