Howmet Aerospace Inc. (HWM) stock has reached new all-time highs, driven by strong market momentum and bullish analyst sentiment. Analysts, including Morgan Stanley's Kristine Liwag and Susquehanna's Charles Minervino, remain bullish and have raised their price forecasts. The company recently boosted its full-year guidance following strong Q1 results. HWM is scheduled to report Q2 earnings on July 29.
Howmet Aerospace Inc. (HWM) stock has reached new all-time highs, driven by strong market momentum and bullish analyst sentiment. The stock hit a 52-week high of $189.48 and a year-to-date increase of around 72.6% [1]. Analysts remain optimistic, with Morgan Stanley's Kristine Liwag reaffirming her Overweight rating and raising the price forecast from $170 to $210 [2]. Susquehanna's Charles Minervino also maintained a Positive rating and lifted his forecast to $210 from $170 [1].
The company's strong performance is attributed to robust aerospace demand and operational improvements. Howmet recently boosted its full-year guidance following a 51% year-over-year increase in earnings per share (EPS) in the first quarter [1]. The stock is trading roughly 10% above its 50-day simple moving average, indicating strong momentum [1].
In late June, the CEO received a $45 million retention grant in the form of 255,363 restricted stock units (RSUs), scheduled to vest in 2028. This retention grant may further boost investor confidence in the company's long-term prospects [1].
Howmet is scheduled to report its second-quarter earnings on July 29, which will provide further insight into the company's performance. Analysts expect the earnings report to be positive, given the strong market momentum and bullish sentiment.
In conclusion, Howmet Aerospace Inc. (HWM) stock's recent performance and analyst ratings suggest a positive outlook for the company. Investors should keep an eye on the upcoming earnings report to gauge the company's continued growth prospects.
References:
[1] https://www.aol.com/howmet-aerospace-stock-hits-time-165257017.html
[2] https://finance.yahoo.com/news/howmet-aerospace-stock-hits-time-145257695.html
Comments
No comments yet