UPDATE: JP Morgan Initiates B/E Aerospace at Overweight on Growth Outlook
JP Morgan initiated coverage on B/E Aerospace (NASDAQ: BEAV) with an Overweight rating and a $57 price target.
JP Morgan said, "We expect double-digit organic sales growth through 2014 with margin expansion that should drive annual EPS growth of >20%. Our 2014 EPS estimate of $4.40 is 35 cents above consensus, driven largely by sales. We believe the stock could experience modest multiple expansion if the improved execution we've seen in recent years continues."
B/E Aerospace closed at $47.80 on Wednesday.
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