HWM - Howmet Aerospace upgraded to Buy at Benchmark

2023-03-31 09:18:13 ET

Howmet Aerospace ( NYSE: HWM ) on Friday was upgraded to Buy from a prior investment rating of Neutral by analysts at Benchmark. They said the company is benefitting from growing orders for commercial airplanes.

“Robust industry lead times suggest long-cycle ordering continues for the jet engine supply chain,” according to Benchmark. “Further, we believe the growing long-cycle strength of the industry aircraft order book provides a level of relative strength for Howmet ( HWM ) in most macro recessionary scenarios.”

Benchmark set a price target of $49 a share for Howmet ( HWM ).

Last month, Benchmark had lowered its rating on Howmet ( HWM ) shares because of concerns about supply-chain bottlenecks.

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