Penn State Behrend Team Wins Pittsburgh Investment Challenge

Student team presented a "buy" recommendation for Howmet Aerospace that predicted a 15.5% stock price increase.

Mar. 17, 2026 at 4:19am

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A Penn State Behrend student investment team won the Chartered Financial Analyst (CFA) Society Pittsburgh Research Challenge by presenting a financial analysis and "buy" recommendation for Howmet Aerospace, a manufacturer of aerospace components. The team predicted Howmet's stock will reach $241 in the next 12 months, a 15.5% increase from the current price.

Why it matters

The CFA Research Challenge is a prestigious global competition that allows students to apply their finance and investment analysis skills. Winning this regional competition is a significant accomplishment for the Penn State Behrend team and showcases the strength of their finance program.

The details

During a presentation at the Rivers Club in Pittsburgh, the Behrend team - Coty Dolan, William Falquez, Eli Karnavas, Ana Jacomini Sirotinin and Cayson Woodley - analyzed Howmet Aerospace's market share, governance, and growth drivers. They described Howmet as a "focused, high-margin aerospace supplier" in their report. Teams from several other universities also competed in the event.

  • The Behrend team won the CFA Society Pittsburgh Research Challenge on March 17, 2026.
  • The team will advance to the sub-regional round, with the winner to be announced on March 26, 2026.

The players

Penn State Behrend

A campus of Pennsylvania State University located in Erie, Pennsylvania, known for its strong finance and business programs.

Howmet Aerospace

An American company that produces engines, airfoils, and vacuum-melted superalloys for the aerospace industry.

CFA Society Pittsburgh

The Pittsburgh chapter of the Chartered Financial Analyst (CFA) Institute, which organizes the annual Research Challenge competition.

Greg Filbeck

Vice chancellor and associate dean of academic affairs at Penn State Behrend, who served as the team's adviser.

Ana Jacomini Sirotinin

The captain of the Penn State Behrend team, who is a student in the Penn State World Campus program.

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What they’re saying

“The knowledge our students gain from this is invaluable. They basically have done everything they will need to do to perform in industry, and they have a showpiece that they can take forward as they begin to interview for positions.”

— Greg Filbeck, Vice chancellor and associate dean of academic affairs, Penn State Behrend (Mirage News)

“This project put everything into perspective. There is something about working through a financial model that makes the concepts much clearer than simply reading about how to discount a company's cash flows.”

— Ana Jacomini Sirotinin, Team captain, Penn State Behrend (Mirage News)

“Getting to do a deep dive on one company gave the work real impact. We were able to apply all the skills we have learned, like accounting, economics, geopolitics and finance. That was something I really enjoyed.”

— Eli Karnavas, Senior, Penn State Behrend (Mirage News)

What’s next

The Behrend team will advance to the sub-regional round of the CFA Research Challenge, which will include teams from Loyola University, Seton Hall University, Villanova University and the University of Connecticut. The winner of the sub-regional round will be announced on March 26, 2026.

The takeaway

The Penn State Behrend team's victory in the prestigious CFA Research Challenge demonstrates the strength of the university's finance and investment analysis programs, and the ability of its students to apply their knowledge to real-world business challenges.