Hexcel price target raised to $55 from $50 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Hexcel (HXL) to $55 from $50 and keeps an Underweight rating on the shares. Noting that Aerospace stocks are trading at record multiples, the firm contends that recent multiple expansion in Aerospace reflects sector resilience and adds that it expects industry dynamics to “largely remain on trend.” The firm, which adds in a Q2 preview for the group that the Aero supply chain continues to improve, Boeing (BA) output has momentum, and air traffic demand persists, continues to favor aerospace stocks with a mix of aftermarket and original equipment exposure.