UPDATE: KeyBanc Starts Howmet Aerospace Inc. (HWM) at Overweight
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KeyBanc analyst Philip Gibbs initiates coverage on Howmet Aerospace Inc. (NYSE: HWM) with an Overweight rating and a price target of $36.00.
The analyst commented, "We are initiating coverage on Howmet Aerospace Inc. (NYSE: HWM), a global leader in specialty metals parts for A&D and industrial applications, with an Overweight rating and $36 price target. Global aircraft builds are the key driver for HWM, and we believe builds will bottom in 2020-2021. We encourage cyclical growth investors to add prior to a potential demand resurgence in 2022-2025, with idiosyncratic leverage from airfoils pricing gains and structural cost reductions."
Shares of Howmet Aerospace Inc. closed at $28.38 yesterday.
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