Stifel Nicolaus reiterated its Buy rating on HEICO Corporation HEI but reduced its price target from $52 to $50.
Stifel Nicolaus noted, "We are decreasing our target price by $2 to $50 to account for the special dividend for which both classes of HEICO shares began trading-ex on Thursday, December 13. … HEI shares have lagged a bit as maintenance, repair, and overhaul services demand in general has been weaker than anticipated. HEICO does not fit the general definition, in our view, and is more focused on high population, high value models, including the CFM-56 and V2500 engines that power the global workhorse narrowbody fleet. In our opinion, HEICO should fare better than most of its peers due to this focus."
HEICO Corporation closed at $40.79 on Thursday.
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