JPMorgan Reiterates Overweight Rating on Howmet Aerospace Inc. (HWM)

JPMorgan analyst Seth M. Seifman reiterated an Overweight rating and $130.00 price target on Howmet Aerospace Inc. (NYSE: HWM)

The analyst comments: "The Reuters report on Friday that Howmet has declared the administration's tariffs to be a force majeure event has attracted significant investor attention, both with regard to the potential impact on Howmet and the industry more broadly. We view the move as part of a Howmet strategy to preserve the company's earnings in response to potential cost pressure from tariffs; we do not view it as a statement of Howmet's intent to stop filing orders nor of sudden operational pressure on Howmet or the industry more broadly. We aren't aware of other aero suppliers pursuing this tactic at this time but are not surprised to see Howmet adopt a novel approach. In the meantime, the distribution of higher costs across the industry will be a focus for us."

For an analyst ratings summary and ratings history on Howmet Aerospace Inc. click here. For more ratings news on Howmet Aerospace Inc. click here.

Shares of Howmet Aerospace Inc. closed at $112.33 yesterday.

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