Market Overview

UPDATE: Bank of America Downgrades Wesco Aircraft Holdings to Underperform on Fundamentals, Valuation

Share:
Related WAIR
2016 Budget Promising For Defense Contractors
Bank Of America Downgrades Wesco Aircraft
Manning & Napier Has Diverse Third Quarter (GuruFocus)

Bank of America reduced its rating on Wesco Aircraft Holdings (NYSE: WAIR) from Buy to Underperform and reduced its price objective from $18 to $13.

Bank of America commented, "In our view the slower than anticipated cycle for WAIR's segment of the supply chain, combined with pricing pressure in ad hoc sales, and modest growth in lead times has led to disappointing results to date. While we commend the company's efforts to increase market share, expand internationally and focus on new business opportunities, we believe the fundamental distribution model may be at risk. In our view, the PCP/Boeing deal, whereby BA sources directly from PCP, could mark just the beginning of a fundamental industry change."

Wesco Aircraft Holdings closed at $13.29 on Friday.

Latest Ratings for WAIR

DateFirmActionFromTo
Jan 2015BarclaysDowngradesEqual-weightUnderweight
Nov 2014Bank of AmericaDowngradesBuyUnderperform
Nov 2014BarclaysDowngradesOverweightEqual-weight

View More Analyst Ratings for WAIR
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (WAIR)

Around the Web, We're Loving...

Get Benzinga's Newsletters