UPDATE: Deutsche Bank Raises PT on Hexcel Corporation Ahead of Anticipated Further Upside
In a report published Monday, Deutsche Bank analyst Amit Mehrotra reiterated a Buy rating on Hexcel Corporation (NYSE: HXL), and raised the price target from $41.00 to $54.00.
In the report, Deutsche Bank noted, “We see at least 40% more upside in shares of HXL and are raising our 12- month target to $54 from $41. We believe the company is on the verge of entering the sweet spot of its already-impressive earnings growth trajectory, as the Airbus A350 enters service late next year and begins its production ramp. As such, we are initiating our 2015 EPS estimate at $2.70 (consensus: $2.38), which translates to 50% earnings growth over 2013 levels.”
Hexcel Corporation closed on Friday at $38.80.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.