Arconic (ARNC) PT Raised to $33 at Cowen

Cowen analyst Gautam Khanna raised the price target on Arconic (NYSE: ARNC) to $33.00 (from $32.00) while maintaining an Outperform rating.

The analyst commented, "ARNC is not immune to demand pressures from transitioning aero programs (737Max; A380; 787), which our new estimates reflect, as well comml transport headwinds (OE truck prodn), which we haven't factored in. These factors may restrain the stock, even though ARNC's merits (operating turnaround coming off a capex cycle with a break-up) are attractive at this relative valuation."

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