BTIG raised the firm’s price target on Howmet Aerospace (HWM) to $240 from $205 and keeps a Buy rating on the shares after its Q3 earnings beat. The Engine Products segment recorded yet another quarter of record sales, EBITDA, and EBITDA margins, driven by both A&D and IGT – Industrial Gas Turbine – end markets, the analyst tells investors in a research note. Within commercial aerospace, aftermarket demand remains high as legacy engines continue to operate well longer than anticipated and current/next-gen engines are experiencing greater wear, specifically in the hot section of the engine, the firm added.
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