CRS Price Prediction Next Week
Technical Analysis: Based on the technical indicators, CRS is currently in a consolidation phase with RSI at 47.54, indicating neutral momentum. The MACD of 0.98 suggests a slightly bullish bias. The stock is trading above its 60-day SMA of $187.04 but has recently pulled back from higher levels.
News Impact: Recent earnings report showed strong performance with Q2 EPS of $1.66, beating estimates by $0.05. The company has raised its FY2025 operating income guidance to $500-520M, demonstrating management's confidence in future growth.
Price Targets: Multiple analysts maintain bullish outlook with TD Cowen setting $220 target and J.P. Morgan at $235. Based on Fibonacci levels, key resistance is at $207.64 with strong support at $183.68.
Next Week Price Prediction: Given the technical setup and positive fundamental backdrop:
- Base case (60% probability): $195-205 range
- Bullish case (25% probability): Break above $207.64
- Bearish case (15% probability): Test support at $183.68
Trading Recommendation: SELL with target entry at current levels. Despite positive analyst sentiment, technical indicators suggest short-term weakness. Recommend waiting for RSI to move above 50 and price to break above $207 resistance before establishing new long positions.
CRS Similar Chart Price Prediction
The price of CRS is predicted to go up 2.78%, based on the high correlation periods with BANC. The similarity of these two price pattern on the periods is 97.23%.
CRS
BANC
Up: 2.78%Similarity: 97.23%
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CRS Analyst's Forecast
Bennett Moore
JP Morgan
Buy
2024-11-22
Price Target
$220
Upside
+15.2%
JPMorgan analyst Bennett Moore initiated coverage of Carpenter Technology with an Overweight rating and $220 price target. The shares have rallied 155% year-tp-date on the back of strong demand, solid execution, and an attractive earnings outlook, but the company is well positioned to capture further upside, the analyst tells investors in a research note. The firm says Carpenter's pricing power amid a "robust" order backlog, secular demand tailwinds for 80% of its end market exposure levered to its highest-margin products, significant barriers to entry "cementing its role as an indispensable supplier," and improving cash generation are supportive of growing shareholder returns.
