Morgan Stanley downgraded Hexcel to Underweight from Equal Weight with a price target of $66, down from $70. The firm’s estimates remains below Hexcel’s outlook as it expects a slower aircraft production ramp as a result of continued supply chain challenges and idiosyncratic issues facing Boeing. The shares already trade at a premium to the historical aerospace upcycle multiple, the analyst tells investors in a research note. As such, the firm sees Hexcel’s risk/reward as largely skewed to the downside.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HXL:
- Event 1 Description: The company announced that it will host an investor day event on April 22, 2021, from 1:00 PM to 4:00 PM ET. The event will feature presentations from the executive team, focusing on strategic initiatives, financial updates, and long-term growth strategies. Attendees will have the opportunity to ask questions during a live Q&A session. The event will be webcasted live, and a replay will be available for those who cannot attend.
- Hexcel announces additional $300M share repurchase program
- Hexcel sees 25% adjusted annual earnings growth through 2026
- Hexcel to hold virtual investor day
- Hexcel price target raised to $75 from $65 at BofA