Auriga Cuts PT and Estimates on HEICO (HEI); Cautious on Decelerating FSG Growth

May 24, 2012 1:30 PM EDT Send to a Friend
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Price: $55.78 -2.87%

Rating Summary:
    7 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 10 | New: 8
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Auriga reiterates a 'Hold' on HEICO (NYSE: HEI) price target lowered from $50 to $44.00.

Analyst, Mike Callahan, said, "We are reducing our FY13 estimate to $1.78 (from $1.90). In addition, we are reducing our price target to $44, reflecting a 25x multiple of our FY13 estimate. Our target multiple is at the lower end of its historical trading range of 25x to 30x forward earnings, which we find reasonable given reduced growth rates and added uncertainty."

For an analyst ratings summary and ratings history on HEICO click here. For more ratings news on HEICO click here.

Shares of HEICO closed at $41.84 yesterday.




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