BofA Raises Howmet Aerospace Inc. (HWM)'s Price Target To $215, Maintains Buy Rating

Howmet Aerospace Inc. (NYSE:HWM) is among the 11 Best Large Cap Defense Stocks to Buy According to Analysts. On August 4, Bank of America Securities (BofA) hiked the firm’s price target to $215 from $185, while maintaining a Buy rating for its shares.

While the company’s second-quarter results left investors feeling uncertain, analyst Ronald Epstein argues that Howmet Aerospace Inc. (NYSE:HWM)’s strategic production rates are below major aircraft makers, which mitigates the burden associated with destocking and will benefit the firm once the production rates stabilize for its manufacturers.

Epstein also cited Howmet Aerospace Inc. (NYSE:HWM)’s strong performance in the defense sector, with revenue growth driven by legacy programs. The analysts also acknowledged encouraging growth in the company’s industrial gas turbines segment, fueled by robust power demand from data centers.

Moreover, the BofA analyst highlighted Howmet Aerospace Inc. (NYSE:HWM)’s strategic investments in Japan and Europe, aimed at expanding capacity, as further evidence of its growth potential.

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