Goldman Sachs analyst Noah Poponak has reiterated their bullish stance on HWM stock, giving a Buy rating yesterday.
Noah Poponak has given his Buy rating due to a combination of factors surrounding the robust operating performance of Howmet Aerospace (HWM). The company’s fourth-quarter results for the year 2023 surpassed expectations on crucial performance metrics. Furthermore, Howmet’s initial guidance for the full year of 2024 was able to align with consensus estimates despite conservative assumptions, particularly in relation to the expected pace of new aircraft production from original equipment manufacturers (OEMs).
Howmet Aerospace, which supplies essential components to the aerospace, defense, and truck markets, is experiencing market share growth through various strategies, contributing to continued revenue growth. The management’s consistent operating performance, combined with the company’s ability to exceed expectations in terms of margins and capital deployment, underscores Poponak’s positive outlook. He maintains that Howmet is one of the top investment opportunities within the aerospace supply chain, warranting the Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $60.00 price target.
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Howmet Aerospace (HWM) Company Description:
Arconic, Inc. engages in manufacturing and engineering of lightweight metals. It operates through the following segments: Engineered Products and Forgings (EP&F) and Global Rolled Products (GRP). The EP&F segment produces products that are used primarily in the aerospace, industrial, commercial transportation, and power generation end markets. The GRP segment produces aluminum sheet and plate, aluminum extruded and machined parts, integrated aluminum structural systems, and architectural extrusions used in the automotive, aerospace, building and construction, industrial, packaging, and commercial transportation end markets. The company was founded in 1888 and is headquartered in New York, NY.
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