Howmet target raised to $49, still top pick in Aerospace at Morgan Stanley

Morgan Stanley analyst Kristine Liwag raised the firm’s price target on Howmet Aerospace to $49 from $47 and keeps an Overweight rating on the stock, which the firm says remain its Top Pick in Aerospace. The firm views the company’s 2023 outlook as one that is conservative, based on a risk-adjusted view on OEM build rates, and leaves room for potential upside as it contends that Howmet remains capacitized to meet increased rates when necessary.