Needham & Company Reiterates a 'Buy' on Hexcel Corp (HXL); Adjusting Estimates to Reflect Boeing 737 Production Rate Increase
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Price: $104.07 +1.72%
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Hexcel Corp. (NYSE: HXL) price target of $32.00.
Needham analyst says, "We are adjusting our near-term estimates (FY11 from $1.04 to $1.06) to reflect the Boeing (NYSE: BA)(Not/Covered) 737 production rate increase, which occurred about a quarter sooner than anticipated. The build rate is now at 35 planes per month (from 31.5 per month). In our view, Hexcel is positioned to benefit from Boeing’s 2,215 narrowbodies in backlog (through September 2011) -- worth approx. $800 million. The backlog of 7,746 commercial airplanes (Airbus and Boeing) provides Hexcel with strong financial visibility and is worth an estimated $6.2 billion."
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 $24.11 yesterday.
Needham analyst says, "We are adjusting our near-term estimates (FY11 from $1.04 to $1.06) to reflect the Boeing (NYSE: BA)(Not/Covered) 737 production rate increase, which occurred about a quarter sooner than anticipated. The build rate is now at 35 planes per month (from 31.5 per month). In our view, Hexcel is positioned to benefit from Boeing’s 2,215 narrowbodies in backlog (through September 2011) -- worth approx. $800 million. The backlog of 7,746 commercial airplanes (Airbus and Boeing) provides Hexcel with strong financial visibility and is worth an estimated $6.2 billion."
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 $24.11 yesterday.
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