Hexcel upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Ken Herbert upgraded Hexcel to Outperform from Sector Perform with a price target of $85, up from $75. The analyst anticipates an acceleration in aerospace growth in 2024 and 2025. Hexcel represents a high quality aerospace supplier that will deliver better than expected margins and free cash flow upside, the analyst tells investors in a research note. The firm believes execution, capital allocation and a strengthening widebody aircraft outlook will be positive catalysts for the shares.