UPDATE: Topeka Capital Markets Initiates Coverage on Heico Corporation with Buy Rating, $45 PT
In a report published Friday, Topeka Capital Markets initiated coverage on Heico Corporation (NYSE: HEI) with a Buy rating and $45.00 price target.
Topeka Capital noted, “We believe Heico is one of the only true organic growth opportunities in the Aerospace & Defense industry, as its reverse engineered parts offer cost sensitive airline operators an alternative to high cost OEM manufactured aftermarket parts. Heico is the only company successfully operating an aftermarket-only model on a broad scale. Although we expect industry headwinds to pressure growth rates in the next 12-months, we believe Heico will be able to outpace industry peers growing at least 15% annually.”
Heico Corporation closed on Thursday at $38.52.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Topeka Capital Markets