Howmet Aerospace price target raised to $119 from $108 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Howmet Aerospace (HWM) to $119 from $108 and keeps a Buy rating on the shares. The company’s Q3 results were strong as it continues to benefit from increased airfoil spares volumes and pricing while the aerospace industry battles engine time on wing issues and low OEM production rates, the analyst tells investors in a research note. Howmet should outgrow its end markets given market share and pricing opportunities, while expanding margins and deploying capital in a shareholder friendly manner, the firm added.