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UPDATE: Bank of America Raises PT on Wesco Aircraft to Reflect Expanding Multiples

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In a report published Wednesday, Bank of America analyst Ronald J. Epstein reiterated a Neutral rating on Wesco Aircraft Holdings (NYSE: WAIR), and raised the price target from $17.50 to $21.00.

In the report, Bank of America noted, “We are now applying a 16x CY14E PE multiple, based on a weighted average mix of defense and commercial aerospace. We believe WAIR should trade at a slight premium to pure defense names and pure commercial aerospace names for the following reasons: 1) outsourcing of distribution is still just gaining traction in the A&D world but we believe offers significant potential upside to the industry; 2) WAIR should benefit as the commercial aerospace cycle expands and ad hoc sales as a percentage of mix increase; 3) WAIR is focused on expanding its international reach as well as its mix of sales (i.e OE vs Aftermarket).”

Wesco Aircraft Holdings closed on Tuesday at $18.60.

Latest Ratings for WAIR

Nov 2017Deutsche BankUpgradesSellHold
May 2017JefferiesUpgradesUnderperformHold
Jan 2017SunTrust Robinson HumphreyInitiates Coverage OnBuy

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Posted-In: Bank of America Ronald J. EpsteinAnalyst Color Price Target Analyst Ratings


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