Sterne Agee Reiterates Buy, $49 PT on BE Aerospace
In a recent flash note, Sterne Agee maintains its Buy rating and $49 target price on BE Aerospace (NASDAQ: BEAV) as robust bookings continue as evidenced by the company's solid 4Q11 results.
Sterne Agee says, "Bookings remained robust in the quarter at $655 million, resulting in a 1.0x book-to-bill. Backlog was essentially flat at $3.5 billion. The company booked a record $2.9 billion in awards in 2011. ...Momentum from 2011 will be carried into 2012 with sales and EPS guidance reflecting growth rates of 18% and 23%, respectively. With Request For Quote (RFQ) activity ramping, BEAV's $1 billion non-discretionary consumables business and a large installed base of products, the company is well-positioned for continued gains this cycle."
BEAV closed at $42.20 a share yesterday.
