UPDATE: Oppenheimer Initiates Hexcel at Perform On Rising Commercial Aircraft Production Rates

In a report published Thursday, Oppenheimer analyst Yair Reiner initiated coverage on Hexcel HXL at Perform.

In the report, Oppenheimer cited, “We believe Hexcel represents a compelling play on rising commercial aircraft production rates and on the secular growth of carbon composite content on new aerospace platforms. Our neutral rating does not reflect concerns over the company’s fundamentals, which we view as strong and improving, but over valuation, which now seems fair.”

Hexcel closed Thursday at $34.88.