UPDATE: Imperial Capital Initiates B/E Aerospace at Outperform on Upside Potential
Imperial Capital initiated coverage on B/E Aerospace (NASDAQ: BEAV) with an Outperform rating and a $56 price target.
Imperial Capital commented, "BEAV is well positioned in the broader Aerospace & Defense (A&D) sector, and in our view justifies the premium at which the stock trades. First, the company has little defense exposure. We believe that defense sales represent just 5–10% of total company sales, which is a net positive as the outlook for defense spending will likely deteriorate as fiscal constraints and budget priorities put additional pressure on defense budgets over the next 2-4 years, in our view."
B/E Aerospace closed at $43.91 on Tuesday.
Latest Ratings for BEAV
|Dec 2015||Deutsche Bank||Maintains||Buy|
|Dec 2015||JP Morgan||Upgrades||Neutral||Overweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.