UPDATE: Bank of America Raises Wesco Aircraft Holdings' PO

According to a research report published this morning, Bank of America has increased Wesco Aircraft Holdings'

PO from $19 to $20. In the report, Bank of America said, "We expect the market to receive today's results negatively, as excess inventory held by customers has lowered growth expectations for FY12. However, we remain positive regarding the long-term outlook for the company as we believe WAIR is still positioned to benefit from the secular shift to inventory management and volume growth from the commercial aerospace upcycle. We view short-term weakness in the stock as an opportunity." Bank of America maintains its Buy rating on Wesco Aircraft Holdings, which is currently trading at $13.44.