Howmet Aerospace upgraded to Buy after 7.5% drop, SpaceX's blade casting seen as limited threat

Howmet Aerospace's stock fell 7.5% after Elon Musk announced SpaceX might speed up natural-gas turbine deployment by making turbine blades in-house. However, Howmet holds over 50% of the global market for industrial gas turbine blades and has strong long-term contracts and capacity expansions worldwide. SpaceX's move is viewed as addressing its own supply issues, not a large-scale competition to Howmet, so the impact on Howmet's earnings and margins is expected to be minimal. Analysts project 16% revenue and 22% EBITDA growth annually through 2028, with price targets suggesting 15-30% upside from current prices.