RBC raises PT for Heico

Heico

31/08/2022 11:35

** Brokerage RBC Capital Markets raises PT for aerospace
company Heico Corp  HEI.N  to $150 from $145, reflecting higher
FY23 estimates for the co 
    ** Says co posted "solid" underlying results, helped by
continued aero recovery and strong execution
    ** "The 25% organic growth in the FSG (Flight Support Group)
segment was a highlight," brokerage says, reiterating its
"sector perform" rating 
    ** Says supply chain headwinds will likely spill into FY23
although HEI is certain that sales will pick up in Q4
    ** HEI reported Q3 revenue of $569.5 mln, ahead of analysts'
estimate of $562.4 mln  urn:newsml:reuters.com:*:nL8N30603N
    ** YTD, HEI shares were up ~6% 

 (Reporting by Priyamvada C in Bengaluru)
 ((Priyamvada.c@thomsonreuters.com))