In a report published on Friday DA Davidson raised its price target on HEICO Corporation HEI from $44 to $48 and maintained its Buy rating on the company.
In the report analysts commented that, "The company now expects full year revenue growth of 8%-10%, up from an increase of 6%-8% previously. 2013 net income is now expected to grow 11%-13% compared to last year, up from a 9%- 11% increase. Approximately 60% of growth is expected to be organic, compared to previous expectations of 75%. Implied 2013 EPS guidance has been raised to $1.79 (largely due to outperformance this quarter) from $1.75. We are raising our 2013 EPS to $1.80 after factoring in this quarter's beat and including the additional revenue from the Reinhold acquisition (expected to close in 10-30 days), slightly offset from margin dilution on a GAAP basis from the acquisition."
HEICO closed on Thursday at $49.34
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