Cowen Downgrades Hexcel Corp. (HXL) to Market Perform

April 13, 2020 9:17 AM EDT
Get Alerts HXL Hot Sheet
Price: $61.11 -1.83%

Rating Summary:
    6 Buy, 14 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 30
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Cowen analyst Gautam Khanna downgraded Hexcel Corp. (NYSE: HXL) from Outperform to Market Perform with a price target of $40.00 (from $43.00).

The analyst commented, "We are downgrading our rating on HXL's stock to Market Perform from Outperform, with a $40 PT (20x ballpark C21E P/E). The severity of likely aero OE production rate cuts renders the stock "dead money" at best, at least until a lower EPS bound can be established with conviction."

For an analyst ratings summary and ratings history on Hexcel Corp. click here. For more ratings news on Hexcel Corp. click here.

Shares of Hexcel Corp. closed at $35.80 yesterday.

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