BMO Capital raised the firm’s price target on Hexcel to $73 from $69 and keeps a Market Perform rating on the shares after its financial outlook at this week’s Investor Day. The management forecast a solid outlook through 2026, which includes 10%-12% top-line growth and above-25% EPS growth, with much of the growth to come from Commercial Aero as narrow/wide body build rates ramp to meet the over-$9B backlog, the analyst tells investors in a research note. BMO also sees solid contribution from Space & Defense and Industrial segments, the firm added.
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- Hexcel price target raised to $81 from $78 at Wells Fargo
- 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.
Event 2 Description: The company’s board of directors has approved a new stock repurchase program, authorizing up to $500 million in buybacks. In addition to any unspent amount authorized, this new program adds to the remaining funds from their 2018 program, allowing stock repurchases through various market transactions. Details and replays of the event are accessible on the company’s investor relations website, with the assurance that this information is not formally filed for regulatory purposes.
- Hexcel announces additional $300M share repurchase program
- Hexcel sees 25% adjusted annual earnings growth through 2026
- Hexcel to hold virtual investor day
