Hexcel price target lowered to $62 from $71 at Truist

Truist lowered the firm’s price target on Hexcel to $62 from $71 and keeps a Hold rating on the shares after its Q3 earnings miss. The ongoing aero supply chain uncertainty, coupled with required capacity and labor additions to support planned rate increases, will continue to modestly drag on the company’s operating margins into 2024, the analyst tells investors in a research note.