Wells Fargo analyst Matthew Akers raised the firm’s price target on Hexcel to $81 from $78 and keeps an Equal Weight rating on the shares. The firm says Hexcel’s investor day highlighted its differentiated technology and market position, with opportunity for productivity improvement on improving labor productivity and technology adoption. Long-term targets are about in line with consensus, Wells adds.
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- 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 to hold virtual investor day
- Hexcel price target raised to $75 from $65 at BofA
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- Hexcel downgraded to Neutral from Buy at UBS
