Hexcel price target lowered to $70 from $71 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Hexcel to $70 from $71 and keeps a Market Perform rating on the shares as part of a broader research note on U.S. Chemicals. The firm’s channel checks point to a handful of end-markets and commodities that enjoyed relative strength, while at the same time there were pockets of incremental weakness, particularly in Europe and China, the analyst tells investors in a research note. For the company, BMO notes that it has updated its outlook for Commercial Aero businss due to the 737 MAX ramp being pushed out slightly, though it still sees mid-teens top-line growth over the next several quarters.