Needham & Company Reiterates a 'Buy' on Hexcel Corp. (HXL); Beat and Raise

Needham & Company reiterates a 'Buy' on Hexcel Corp. (NYSE: HXL) price target raised by $2 to $34.

Needham analyst says, "The company delivered another 'beat and raise' quarter of financial results. The increased uptake of materials in the commercial aerospace segment was the force behind the top and bottom line upside and better than expected near-term outlook. In our view, Hexcel is well-positioned to benefit from growing demand for more energy efficient aircraft." (Needham raises FY11 EPS estimate from $1.06 to $1.14 and FY12 from $1.29 to $1.35)

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 $25.02 yesterday.

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