UPDATE: JP Morgan Initiates B/E Aerospace at Overweight on Growth Outlook

JP Morgan initiated coverage on B/E Aerospace

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.