Bernstein raised the firm’s price target on Howmet Aerospace (HWM) to $127 from $113 and keeps an Outperform rating on the shares ahead of quarterly results. The firm notes Howmet is up 94% year-to-date, as the market gains visibility into multiple stages of upside. Bernstein expects more upside and raises its price target on a slightly better long-term outlook, higher market multiple and rolling its valuation forward.
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