DA Davidson Maintains Buy Rating on HEICO

DA Davidson maintains its Buy rating on class A shares of HEICO (NYSE: HEI-A) in a research report out today and presently has a $55 price target on the shares. In the report, DA Davidson writes, "HEICO reported Q1 EPS of $0.45 compared to the Street mean estimate of $0.43. One-time acquisition related costs were roughly $0.02. Our $55 target is based on the shares trading at 25x our FY13 EPS. We believe a higher multiple is warranted given the numerous avenues of growth and a strong record of integrating businesses. Given the balance sheet flexibility and cash flow strength, additional acquisitions are likely." Class A shares of HEICO closed today at $40.21, down 3.29% from Wednesday's market close.