JP Morgan Cuts Carpenter Technology (CRS) Price Target to $520

JP Morgan continues to favor Carpenter Technology, setting a price target of $520, a 38.14% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:21 PM EDT

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JP Morgan cut its price target on Carpenter Technology Corporation ($CRS) to $520 from $700 on October 14, 2026, and rates the stock "Overweight".

Since the rating, $CRS is down 0.7% to date (from the $379.73 close on Oct 14, 2026).

CRS Carpenter Technology Corporation

$377.09 +11.61% year to date

Daily close · Oct 16, 2026

Key Points

On October 14, 2026, JP Morgan reiterated its Overweight rating on Carpenter Technology Corporation, with a new price target of $520, down from $700.
JP Morgan's $520 price target implies 38.14% upside from Carpenter Technology Corporation's ($CRS) current $376.44 share price.
The stock recently traded around $376.44, which is about 27.6% below the new analyst target.
Other analysts have mixed views, with Wells Fargo maintaining an Equal-Weight rating and a target of $430, while Keybanc also holds an Overweight rating with a target of $465.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Carpenter Technology Corporation alert may contain errors. Disclosures

JP Morgan reiterated its Overweight rating on Carpenter Technology Corporation (NYSE: CRS) on October 14, 2026. The firm set a new price target of $520, down from $700. This reflects a cautious outlook, even as the company operates in the specialty metals sector, which has shown growth potential.

Other Institutional Activity in Carpenter Technology

Blackrock Inc. holds 6,216,560 shares of Carpenter Technology, worth about $2.34 billion, having increased its position by 394,175 shares. Meanwhile, FMR, LLC trimmed its stake by 141,466 shares, bringing its total to 4,184,698 shares valued at approximately $1.58 billion. Vanguard Capital Management LLC added 7,109 shares to its holdings, now holding 2,161,324 shares worth around $815 million. Vanguard Portfolio Management LLC also increased its stake by 57,178 shares, totaling 2,113,945 shares valued at about $797 million. State Street Corporation reduced its holdings by 101,646 shares, ending with 1,907,172 shares valued at roughly $719 million.

Carpenter Technology Corporation Stock Down 1.1%

The stock is currently trading at $376.44, which is significantly below the new target set by JP Morgan. This price is a 27.6% drop from the target, indicating potential room for growth if the company's performance aligns with market expectations. The stock has been volatile, but the long-term outlook remains positive due to the company's involvement in specialty metals.

12-month forecast

$CRS price target

Carpenter Technology Corporation daily closes and this analyst's $520 target. Not advice.

Recent Earnings

In its latest earnings report, Carpenter Technology posted trailing twelve-month revenue of approximately $3.12 billion and earnings per share (EPS) of $10.53. The company has seen a revenue growth of 12.6% year-over-year, which is a strong indicator of its operational performance. The next earnings report is scheduled for October 22, 2026.

Insider Buying and Selling at Carpenter Technology Corporation

Recent insider transactions include Steven E. Karol, a Director, who sold 2,000 shares on June 1, 2026, for about $975,479. Another Director, Ramin Younessi, sold 438 shares on August 21, 2026, valued at approximately $216,001. CEO Tony R. Thene sold 109,283 shares on August 25, 2026, worth about $52.88 million. Additionally, Karol sold 3,275 shares on September 4, 2026, for a total of about $1.55 million.

Analysts Set New Price Targets

On October 14, 2026, JP Morgan maintained its Overweight rating on Carpenter Technology with a price target of $520, down from $700. Earlier, Wells Fargo maintained its Equal-Weight rating with a target of $430 on September 30, 2026, while Keybanc also maintained its Overweight rating with a target of $465 on October 8, 2026.

About Carpenter Technology

Carpenter Technology Corporation is involved in manufacturing, fabricating, and distributing specialty metals, including titanium alloys and stainless steels. It operates globally with a strong presence in the U.S., Europe, and Asia. The company is positioned well in the industrial sector, especially with its focus on specialty alloys and engineered products.

Bottom Line

Investors should keep an eye on Carpenter Technology's upcoming earnings report on October 22, 2026, to gauge its performance trends. With mixed ratings from analysts and a significant gap between the current stock price and JP Morgan's target, the stock's future movements will be closely watched.