Benzinga | Sep 10, 2020 09:51AM EDT

Why Howmet Aerospace's Stock Is Trading Higher Today

Howmet Aerospace (NYSE:HWM) shares are trading higher on Thursday after Barclays upgraded the stock from Underweight to Overweight and raised the price target from $13 to $22 per share.

Howmet Aerospace derives the vast majority of its revenue supplying specialty metals to the aerospace and defense end market, although it has a smaller presence in certain other end markets as well. Despite emerging from an aluminum-centric parent company, only 20% of its volumes are aluminum products. Instead, superalloys constitute roughly 60% of volumes and titanium products account for the balance.

Howmet Aerospace shares were trading up 5.46% at $18.06 on Thursday during the time of publication. The stock has a 52-week high of $18.99 and a 52-week low of $9.87.