Hexcel price target lowered to $65 from $75 at BofA

BofA lowered the firm’s price target on Hexcel to $65 from $75 and keeps a Neutral rating on the shares. While the OEM production ramp is contributing meaningfully to growth, margins are being stressed as total company operating margins declined 260 basis points year-over-year, the analyst tells investors in a post-earnings note. The firm’s lower target factors in near term profitability headwinds from supply chain and labor challenges, as well as a de-rating in the market multiple, the analyst noted.