Loar Holdings rises as brokerages start coverage after research quiet period ends

Loar Holdings

20/05/2024 17:00

** Shares of aerospace parts manufacturer Loar Holdings
 LOAR.N  rise as much as 1.2%, last up 1% at $52.04
    ** Brokerages initiate coverage on LOAR as IPO research
quiet period ends
    ** Citigroup starts with a "buy" rating and a PT of $64, a
24.2% upside to the stock's last close
    ** It says LOAR appears to be in the right place at the
right time, given the macro backdrop for the industry and
investor appetite for such assets
    ** Solid revenue visibility as global air traffic moves
beyond 2019 levels, defense budgets continue to grow and
production of new aircrafts grind higher - Citigroup 
    ** RBC Capital Markets initiates with an "outperform" rating
and a PT of $60, a 16.4% upside to the stock's last close
    ** Citigroup Global Markets and RBC Capital Markets were
among the underwriters for the IPO
    ** As of last close, LOAR shares were up 84% since debut on
April 25

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))