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- Seaport Global analyst Richard Safran downgraded Hexcel Corp HXL to Neutral from Buy.
- Safran removed his initial price target of $52 on the shares, which he views as "close to fully valued."
- While he sees "no major negatives ahead," Safran doubts the company's coming Q3 report does much to lift the stock, and thinks his previous investment thesis "has played out."
- While initiating Hexcel with a Buy Rating in July last year, Safran had mentioned that Aerospace recovery isn't priced in by the market and views Hexcel as an early beneficiary.
- Price Action: HXL shares are trading lower by 0.94% at $60.13 on the last check Friday.
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