Howmet Aerospace price target raised to $47 from $42 at Truist

Truist analyst Michael Ciarmoli raised the firm’s price target on Howmet Aerospace to $47 from $42 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results for Aerospace and Defense names. Easing recession fears and stable demand trends augur well for the firm’s industrial exposed names but the set-up for commercial aero and defense looks more challenging, the analyst tells investors in a research note. Lofty valuations and strong performance year-to-date could also drive sell-the-news responses, particularly given the lingering supply chain and production rate unknowns, Truist added.