2 Top Growth Stocks to Buy Right Now and Hold for the Long Term
If you commit to investing in a couple of stocks for the long term, it's a good idea to put money in companies where you have a high degree of confidence that they will generate profits for years. Given that framework, I think advanced materials company Hexcel (NYSE: HXL) and machine vision company Cognex (NASDAQ: CGNX) are two stocks worth looking at. Here's why.
Hexcel manufactures and sells advanced lightweight composite materials and engineered materials. Its key end market is commercial aerospace (60% of sales), with space defense also heavily represented (29%). The company also sells into industrial end markets (11%), most notably in the wind power industry.
A look at its key customers frames the case for buying into the stock. Key customers include Airbus (38% of 2022 sales), with Boeing (14%) coming in second. However, Hexcel's content on Airbus and Boeing planes also comes from selling to various aerospace suppliers, including General Electric, RTX, and Spirit AeroSystems, among many others. On the defense side, Lockheed Martin is a key customer, as is Vestas in wind energy.
Source Fool.com
Hexcel Corp. Stock
With 10 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 73 € there is a positive potential of 25.86% for Hexcel Corp. compared to the current price of 58.0 €.
