UPDATE: Bank of America Raises PT on Wesco Aircraft on Commercial Aerospace Ramp-Up

In a research report published Monday, Bank of America analyst Ronald J. Epstein raised the price target on Wesco Aircraft WAIR from $16 to $17.50 and maintained a Neutral rating.

In the report, Bank of America noted, "...ah hoc sales have continued to perform better than we expected (2QFY13 ad hoc sales were up 27% Y/Y and up 10% Q/Q). As the commercial aerospace OE cycle continues to ramp up, we expect Wesco to benefit."

Wesco Aircraft closed Friday at $16.57 and at the time of publication traded up 1.99 percent.