Howmet Aerospace price target raised to $42 from $39 at Truist

Truist analyst Michael Ciarmoli raised the firm’s price target on Howmet Aerospace to $42 from $39 and keeps a Hold rating on the shares after its Q1 earnings beat and above-consensus guidance. The management’s underlying assumptions still appear conservative despite the increased 2023 outlook, and the firm now sees earnings and revenue at or slightly above the upper end of the guidance ranges, the analyst tells investors in a research note. Based on the increasing titanium ordering activity from aircraft OEMs and positive 787 commentary from the management, commercial aero revenue has the potential to surprise to the upside, Truist added.