Heico Upgraded To Neutral At BofA, With Unchanged Price Target

Heico Upgraded To Neutral At BofA, With Unchanged Price Target
  • 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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