12:50 PM EDT, 04/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $59, raised $4, reflects a 22x multiple applied to our 2025 EPS estimate. The applied multiple is slightly below HXL's long-term historical forward average, but merited, in our view, by concerns over the health of the Boeing 787 program, for which HXL is a key supplier. We lift our 2024 EPS estimate by $0.05 to $2.25, but keep 2025's at $2.68. Q1 EPS of $0.44 vs. $0.50 beat the consensus view by $0.02. We think HXL's pull-through demand from the commercial aircraft OEMs, while improving, could continue to be challenged in the near term. Gross margins improved sequentially, but were narrower year-over-year. All told, we think Q1 was a decent quarter for HXL and the big-picture outlook seems a bit brighter than the slowdown in late 2023, but we think the 12-month outlook is still murky, with factors beyond management's control. In the longer term, we think HXL will fare well.