UPDATE: Cowen Upgrades Howmet Aerospace Inc. (HWM) to Outperform

(updating comment)

Cowen analyst Gautam Khanna upgraded Howmet Aerospace Inc. (NYSE: HWM) from Market Perform to Outperform with a price target of $30.00 (from $21.00).

The analyst comments "We're upgrading HWM to Outperform from Market Perform ($30 PT; 14.4x EV/EBITDA). Q3 sales/EPS marks a trough, "2nd derivatives" will improve (vaccine; Max re-cert), & HWM has a strong price/cost narrative. Our timing isn't ideal (stock up 20%+ post vaccine news), but aero OE multiples likely have a higher floor, relative valuation is attractive, & we'd use weakness as a buying opportunity."

For an analyst ratings summary and ratings history on Howmet Aerospace Inc. click here. For more ratings news on Howmet Aerospace Inc. click here.

Shares of Howmet Aerospace Inc. closed at $23.00 yesterday.

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