Hexcel price target lowered to $78 from $81 at Truist

Truist lowered the firm’s price target on Hexcel (HXL) to $78 from $81 and keeps a Buy rating on the shares after its Q2 results and updated guidance. As expected, the company reduced its FY24 guidance amid aircraft production rate and supply chain uncertainty, though the management did maintain its 2026 targets, calling it a “realistic” outlook, the analyst tells investors in a research note. An upside breakout in the stock is not likely to occur until Boeing (BA) and Airbus (EADSY) production clarity truly emerges, the firm added.