Howmet Aerospace price target raised to $300 from $275 at BTIG

BTIG raised the firm’s price target on Howmet Aerospace (HWM) to $300 from $275 and keeps a Buy rating on the shares after its Q1 results. Total spares sales grew 36% y/y to about $520M, accounting for 23% of total revenue, with commercial aerospace spares alone growing 48% y/y and according to management, spares volumes should continue to grow for 8-10 years, with the lion’s share of growth coming in the first several years, the analyst tells investors in a research note.