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UPDATE: Topeka Capital Markets Initiates Coverage on Heico Corporation with Buy Rating, $45 PT

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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.

Latest Ratings for HEI

DateFirmActionFromTo
Dec 2016Credit SuisseUpgradesNeutralOutperform
Aug 2016Bank of AmericaDowngradesBuyNeutral
Aug 2016KeyBancDowngradesOverweightSector Weight

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Posted-In: Topeka Capital MarketsAnalyst Color Initiation Analyst Ratings

 

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