Needham & Company Reiterates a 'Buy' on Hexcel Corp. (HXL); Taxiing For Takeoff

Needham & Company reiterates a 'Buy' on Hexcel Corp. (NYSE: HXL), PT increased from $24 to $32.

Needham analyst says, "We are raising our near-term estimates to reflect the likelihood of stronger demand for Hexcel’s high performance composite materials to support increased uptake for both the next-generation and legacy commercial aerospace programs. Our new fiscal 2012 estimates are for revenues of $1,504 million and operating EPS of $1.29."

"We believe our price-toearnings multiple could be conservative as other advanced applications material suppliers such as Zoltek (Nasdaq: ZOLT) (Hold) are trading at richer valuations levels."

For more ratings news on Hexcel Corp. click here and for the rating history of Hexcel Corp. click here.

Shares of Hexcel Corp. closed at $21.89 yesterday.

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