Jefferies raises Howmet Aerospace price target after strong Q2 revenue and profit beat

Jefferies upgraded its price target for Howmet Aerospace to $370 from $340, maintaining a Buy rating after the company reported strong Q2 results. Howmet's revenue rose 24% year-over-year to $2.547 billion, beating estimates, driven by a 28% increase in commercial aerospace sales. Adjusted earnings per share came in at $1.33, surpassing expectations, while adjusted EBITDA grew 39% to $817 million with a margin of 32.1%. The company also returned capital to shareholders through $300 million in stock buybacks and a 17% dividend increase, signaling confidence in future cash flow and stability.