RBC Capital analyst Ken Herbert raised the price target on VSE Corp VSEC once again in quick succession. Last month, Herbert raised the price target on VSE to $65 after initiating the coverage with an Outperform rating and a $60 price target days before.
- Herbert raised the price target on VSE to $70 (an upside of 15%) from $65 and maintained an Outperform rating on the shares after holding talks with its CEO and CFO that focused on the Aviation segment.
- Herbert mentions in his note that the company has "significant runway" in its target markets across its segments with volume, scale, and efficiencies contributing to margin expansion.
- He adds that the positive 2022 free cash flow should be a catalyst after the year-to-date working capital investments of over $60 million.
- Recently, Canaccord analyst Austin Moeller raised the price target to $72 (an upside of 13.87%) from $62 and maintained a Buy rating on the shares.
- Price Action: VSEC shares traded higher by 1.13% at $61.06 on the last check Friday.
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