Howmet Aerospace Inc. (HWM) PT Raised to $80 at Jefferies

Jefferies analyst Sheila Kahyaoglu raised the price target on Howmet Aerospace Inc. (NYSE: HWM) to $80.00 (from $74.00) while maintaining a Buy rating.

The analyst comments "We est BA's 737 build rate at 29.5/mo for '24, w/ HWM est now 31/mo vs 34/mo. Our '24 revs are lowered 2% to $7.0BB w/ a larger impact from labor costs if rate fails to ramp. Our '24 EBITDA is 4% lower to $1.60BB w/ incrementals now flat y-o-y at 25%, driving adj EPS of $2.10 vs guide of $2.10-2.20. FCF conversion is at the low-end at 82%. With HWM up 27% YTD to 25X P/E, Q1 could offer a new entry pt for our preferred pick to play the OE upcycle."

You May Also Be Interested In

• Shopify (SHOP) PT Raised to $180 at Canaccord
• Wix.com (WIX) PT Raised to $80 at Cantor Fitzgerald
• ViaSat (VSAT) PT Raised to $105 at Needham