Truist raised the firm’s price target on Hexcel (HXL) to $83 from $75 and keeps a Buy rating on the shares. The stock popped despite the downward revision to its revenue and earnings outlook, with the “big drivers” of buying attributed to the announcement of a $600M buyback and confidence in generating over $1B in free cash flow over the next four years, the analyst tells investors in a research note.
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