Hexcel (HXL) to Benefit from Backlog in Commercial Airplanes

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Needham & Company maintained a Buy rating on advanced composites company Hexcel Corp. (NYSE: HXL) and cut its price target to $33.00 (from $35.00).

Commenting on Hexcel’s Q3 earnings, analyst Michael Lew said "Hexcel reported a strong quarter of results in a challenging environment. The financial upside was broad-based driven by the strong growth in the Commercial Aerospace, Space & Defense and wind energy segments."

The price target cut reflects minor adjustments to Q4 EPS estimates (to $0.41 from $0.44).

Going forward, Lew said, “In our view, the company is well positioned to benefit from the sizeable backlog of commercial airplanes that is worth an estimated $6.7 billion.”

For an analyst ratings summary and ratings history on Hexcel Corp. click here. For more ratings news on Hexcel Corp. click here.

Shares of Hexcel Corp. closed at $26.00 yesterday, with a 52 week range of $22.09-$28.01.

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