Howmet Aerospace initiated with an Equal Weight at Wells Fargo

Wells Fargo analyst David Strauss initiated coverage of Howmet Aerospace (HWM) with an Equal Weight rating and $240 price target The firm sees less upside to expectations for the stock relative to peers while also citing its high valuation, the analyst tells investors in a research note. Wells Fargo adds that Howmet’s organic growth has come through largely in line with its peer group over the past several years.