Hexcel price target lowered to $81 from $88 at Truist

Truist lowered the firm’s price target on Hexcel to $81 from $88 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results in the Aerospace & Defense sector. The setup for commercial aero OEM will be challenged amid well-telegraphed supply chain and production issues, though the aero aftermarket group should see “another strong showing”, with upside to consensus expectations set to unfold, the analyst tells investors in a research note. For the company, the firm cites lower MAX, 787 and Airbus volumes along with increased hiring likely driving a conservative aircraft production rate forecasting and likely to lead to a downward revision of Hexcel’s recently introduced long-term target.