Hexcel Falls as Goldman Cuts to Sell on Industry Headwinds

Hexcel Falls as Goldman Cuts to Sell on Industry Headwinds

Hexcel Falls as Goldman Cuts to Sell on Industry Headwinds © Reuters.

By Dhirendra Tripathi

Investing.com – Hexcel (NYSE:HXL) shares fell 4% in Friday’s trade following a Goldman Sachs (NYSE:GS) downgrade to sell, citing industry headwinds.

The brokerage retained its price target of $43 on the stock, still 25% lower than the current price.

Goldman Sachs analyst Noah Poponak had this to say on the stock, “Limited aftermarket, more exposure to widebody than narrowbody, and challenges in Wind result in the least free cash flow per share growth 2019 to 2025E in our comparable aerospace coverage. Despite that, HXL is our most expensive covered aerospace stock on most key metrics after HEI and TDG”.

Poponak’s downgrade is in contrast to Barclays (LON:BARC)’s upgrade of the stock just 10 days ago. David Strauss raised the rating to equalweight from underweight with a price target of $64.

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