UPDATE: Deutsche Bank Downgrades BE Aerospace to Hold on Valuation

Deutsche Bank downgraded B/E Aerospace, Inc.

from Buy to Hold and raises 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.