Howmet Aerospace price target raised to $60 from $55 at TD Cowen

TD Cowen analyst Gautam Khanna raised the firm’s price target on Howmet Aerospace to $60 from $55 and keeps an Outperform rating on the shares. The firm sees mostly in-line results but strong DoD funding plus FMS/munitions replenishment demand bolsters defense revenues with key upcoming program decisions; but early-stage program risks are a potential margin headwind.