Howmet Aerospace initiated with an Outperform at Bernstein

Bernstein initiated coverage of Howmet Aerospace with an Outperform rating and $67 price target. The analyst sees more upside for Howmet even after outperformance by the stock in 2023. Howmet is a leading supplier of engine and structural components, heavily for aerospace markets, and benefits from a strong outlook for commercial aircraft production, rising content share on commercial engines and higher prices, the analyst tells investors in a research note. The firm believes Howmet demand should accelerate even more due to new-generation engine components with more frequent replacements at still higher prices.