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Canaccord Raises Price Target On HEICO Ahead Of Q3 Earnings


Canaccord Genuity reiterated its Buy rating on Heico Corp (NYSE: HEI) and raised the price target to $82 from $75.

The analysts previewed the 3Q16 earnings, expected to be released on the afternoon of August 24. Canaccord's $0.61 3Q16 EPS estimate is ahead of consensus. The analysts model in just under 7 percent organic growth, similar to 2Q16, but believe growth will be stronger in the FSG segment, driving some mix shift.

According to the analysts, industry fundamentals are improving, and potential acquisitions and upside to 2017 estimates can also be positive catalysts. However, they believe the stock will consolidate in the near-term, and they don't expect the 3Q16 results to be a major catalyst for the stock.

Posted-In: Analyst Color Previews Reiteration Analyst Ratings Trading Ideas


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