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Wells Fargo has maintained an "Equal-Weight" rating on Howmet Aerospace (HWM) while raising its price target from $118 to $145, reflecting a 22.88% increase and a more optimistic outlook for the company's stock performance. Analysts project an average target price of $148.42, indicating a slight downside from the current price of $153.87, with a consensus recommendation of "Outperform." However, GuruFocus estimates a fair value of $67.52, suggesting a significant potential downside of 56.12%.
Wells Fargo analyst Matthew Akers indicates that the U.S. government's fiscal 2026 budget request will exceed expectations for Department of Defense spending, with a proposed top line of $961 billion, reflecting a 13% year-over-year increase. This figure, which includes some reconciliation bill funds, suggests a 7% growth when adjusted, signaling a positive outlook for defense stocks. Key players in the defense sector include BAE Systems, Boeing, General Dynamics, HII, L3Harris Technologies, Lockheed Martin, Northrop Grumman, and RTX.
DOGE has terminated over 120 contracts with Deloitte, totaling more than $1.16 billion, claiming to save taxpayers approximately $371.8 million. This move, part of a broader effort to cut government spending, has significantly impacted consulting firms reliant on federal contracts, with analysts warning of potential revenue declines and job losses in the sector. The cuts follow a directive from the General Services Administration for consultancies to identify non-essential contracts, reflecting the administration's focus on fiscal responsibility.
Matthew Akers
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Wells Fargo Raises Howmet Aerospace Price Target to 145 Amid Neutral Rating
21:32 02.05.2025
us defense budget proposal exceeds expectations boosting defense stocks
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