Benchmark lifts HEICO's PT on strong aftermarket demand and Wencor buyout

Heico

14/06/2024 15:44

** Brokerage Benchmark lifts PT on aircraft parts
manufacturer HEICO Corp  HEI.N  to $245 from $185, about 8%
upside to its last close
    ** Cites continued strength in aerospace aftermarket demand
and acceleration in product synergies from acquisition of
Wencor, another aircraft parts maker 
    ** HEI's Electronic Technologies Group recovered faster than
expected on growth of gross profit margins and sales,
particularly in defense products - brokerage
    ** Fourteen brokerages rate stock "buy" or higher, four
"hold" and one "sell"; their median PT is $237.50 - LSEG data
    ** Stock up 26.7%, YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))