Hexcel Corp. (HXL) PT Raised to $55 at Cowen

Cowen analyst Gautam Khanna raised the price target on Hexcel Corp. (NYSE: HXL) to $55.00 (from $48.00) while maintaining a Market Perform rating.

The analyst commented, "Q1 extended HXL's comml aero demand recovery, and the high end of C22's EPS guidance range appears plausible, which suggests modest (3%) upside to Street estimates. The stock's valuation limits upward re-rating headroom, but downside in the stock is also limited by HXL's high short interest, robust growth prospects, and takeover appeal. We're resetting out PT to $55, approx. 17.5x C22E EV/EBITDA."

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