Howmet Aerospace (HWM – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Josh Sullivan from Benchmark Co. maintained a Buy rating on the stock and has a $135.00 price target.
Josh Sullivan has given his Buy rating due to a combination of factors that position Howmet Aerospace as a strong investment opportunity. The company’s conservative guidance for FY25, set at the beginning of the year, is seen as a positive move in the current economic environment, providing a buffer against uncertainty. Additionally, Howmet Aerospace is expected to benefit from the SPS fire, which has reduced capacity in the fastener market, allowing the company to potentially capture a larger market share.
Furthermore, the ongoing supply chain challenges, particularly in the jet engine sector, are anticipated to bolster Howmet’s Engine Products division. Despite the macroeconomic challenges, Howmet is viewed as a reliable option for investors seeking stability and quality. The company’s strategic positioning and ability to absorb market fluctuations make it an attractive choice, leading to an increased price target of $135.
According to TipRanks, Sullivan is a top 100 analyst with an average return of 25.5% and a 60.92% success rate. Sullivan covers the Industrials sector, focusing on stocks such as Carpenter Technology, Kratos Defense, and Tat Techno.
In another report released on April 17, Truist Financial also maintained a Buy rating on the stock with a $136.00 price target.