On July 2, Howmet Aerospace rose 3.2% in regular trading, trading at $276.555/share, with turnover of $59.73 million.
On the news front, Citigroup raised its price target on Howmet Aerospace to $311 from $303 on July 1, maintaining its Buy rating. Earlier in June, Bernstein also significantly raised its target to $318 from $280, maintaining an Outperform rating. The current FactSet consensus average price target stands at $307.33, with an overall Overweight rating.
The sustained analyst upgrades reflect strong fundamentals. In Q1, the company reported adjusted EPS of $1.22, beating estimates by nearly 10%, while revenue surged 19% year-over-year to $2.31 billion. Management raised full-year guidance, expecting revenue of $9.58B-$9.73B versus the $9.38B consensus, and adjusted EPS of $4.88-$5.00 versus the $4.65 estimate. Industrial gas turbine demand remains a key growth driver, with segment revenue rising 39% year-over-year.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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