UPDATE: Deutsche Bank Downgrades BE Aerospace to Hold on Valuation
Deutsche Bank downgraded B/E Aerospace, Inc. (NASDAQ: BEAV) from Buy to Hold and raised the price target from $50.00 to $55.00.
Deutsche Bank noted, "The change is primarily based on valuation following the stocks' strong outperformance to now being within 6% of its all-time high [reached in '07] and 8x the low reached in '09. While we continue to favorably view BEAV's prospects in a potential environment of reaccelerating aftermarket sales, we prefer names with similar cyclical exposure but more favorable valuation."
BE Aerospace closed at $50.09 on Monday.
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