Howmet Aerospace price target raised to $47 from $45 at Morgan Stanley

Morgan Stanley analyst Kristine Liwag raised the firm’s price target on Howmet Aerospace to $47 from $45 and keeps an Overweight rating on the shares as she assessed where aerospace companies are in their recovery journey versus their historical valuation range and rolled forward her valuations among those in the group. She remains bullish on the continued aerospace recovery in 2023, noting that global air traffic is now at about 75% of pre-COVID-19 levels as of September and full normalization is "likely" in 2023.