Vertical Research downgrades Hexcel on aerospace supply chain issues
10/10/2024 11:35
** Brokerage Vertical Research downgrades rating on Hexcel
Corp HXL.N to "hold" from "buy"
** Company supplies composite parts such as carbon fibers
and structural adhesives to planemakers Boeing BA.N and Airbus
AIR.PA
** Brokerage cuts PT to $65 from $74, which still implies a
9.51% upside to stock's last close
** Says company could face some headwinds due to the
continued supply chain challenges in the aerospace original
equipment manufacturer (OEM) sector from Boeing strike
** "We think Hexcel is at risk from issues that are
basically beyond its control, and that this could remain the
case until there is meaningful improvement in the aerospace OEM
supply chain" - brokerage
** Six of 21 brokerages rate the stock "buy" or higher, 12
"hold" and three "sell"; median PT is $70 - LSEG data
** Up to last close, HXL down 19.53% YTD
(Reporting by Anshuman Tripathy in Bengaluru)
((Anshuman.Tripathy@thomsonreuters.com;))