- BofA analyst Ronald Epstein upgraded Heico Corp HEI to Neutral from Underperform with an unchanged price target of $135, implying an upside of 8.06%.
- The rating change was after its Q3 results marked the fourth consecutive quarter of sequential topline growth.
- Epstein states that the company's sequential improvement was driven by the continued recovery of the commercial aerospace end-market and adds that Heico looks well-positioned for the post-pandemic world.
- Epstein further states that the company's value will be enhanced as "strained" airline finances drive higher demand for the company's "cost-saving" products and services.
- Price Action: HEI shares closed higher by 1.54% at $124.97 on Wednesday.
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