UPDATE: Credit Suisse Upgrades Hexcel Corp. (HXL) to Neutral

June 30, 2021 6:04 AM EDT
Get Alerts HXL Hot Sheet
Price: $60.07 -1.04%

Rating Summary:
    6 Buy, 14 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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(Updated - June 30, 2021 6:05 AM EDT)

Credit Suisse analyst Robert Spingarn upgraded Hexcel Corp. (NYSE: HXL) from Underperform to Neutral with a price target of $64.00 (from $47.00).

The analyst comments "We are upgrading HXL to Neutral (from Underperform) and raising our TP to $64 ($47 prior). After updating our bottom-up commercial aero revenue build for our latest production estimates and taking up our 2022- 2023 margin assumptions, our 2022-2023 adj. EPS estimates are now 28.8%/44.8% above what appears to be a fairly stale Street consensus. Thus, on our higher forecast, HXL no longer looks super expensive at ~21x P/E multiple/5.3% FCF yield, compared to 30x P/E/4.65% on FY’23 Street consensus. That said, shares are not sufficiently inexpensive to be more constructiv.e"

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 $61.37 yesterday.


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