UPDATE: Imperial Capital Research Initiates Coverage on HEICO Corporation with In-Line Rating, $46 PT
In a report published Friday, Imperial Capital Research initiated coverage on HEICO Corporation (NYSE: HEI) with an In-Line rating and $46.00 price target.
Imperial Capital noted, “We are initiating coverage of HEI with an In-Line rating and a one-year price target of $46. While initial FY13 guidance is relatively conservative, we believe anticipated upside is reflected in the stock price. We believe the ‘beat and raise' pattern will be stronger in 2H13 as fundamentals improve, but we see few catalysts that can support expansion of valuation premium as the company evolves and broadens its business mix.”
HEICO Corporation closed on Thursday at $45.81.
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