Desjardins Hikes Heroux Devtek's Price Target By 8%

Heroux Devtek Inc HRX HERXF price target has been raised to C$27 from C$25 by Desjardins analyst Benoit Poirier.

The analyst reiterated the Top Pick rating on the shares.

The analyst mentioned that Heroux Devtek reported another solid quarter despite challenging operating conditions.

Poirier adds that while these issues are expected to persist in the mid-term, management’s strong operational track record gives confidence in its ability to navigate through this challenging environment while unlocking value for shareholders.

The analyst believes Heroux Devtek presents a compelling value thesis, with an attractive valuation and a healthy balance sheet, to opportunistically unlock inorganic growth opportunities, with encouraging signs that the air travel recovery is on its way.

Price Action: HRX shares are trading higher by 5.32% at C$15.04 on TSX on the last check Monday.

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