Hexcel price target raised to $77 from $71 at Wells Fargo

Wells Fargo analyst Matthew Akers raised the firm’s price target on Hexcel to $77 from $71 and keeps an Equal Weight rating on the shares. The firm argues that Tuesday’s selloff looks overdone, and thinks it was at least partly related to expectations of a larger raise as guidance looked conservative after the Q1 beat. While Wells remains on the sidelines, the firm believes the risk/reward outlook has improved.