Deutsche Bank Downgrades BE Aerospace (BEAV) to Hold
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Deutsche Bank downgraded BE Aerospace (NASDAQ: BEAV) from Buy to Hold with a price target of $62.
Analyst Myles Walton said, "We're 2+ weeks removed from the announcement that Rockwell Collins would purchase B/E Aerospace for $62/sh ($8.3B including $1.9B of debt) and we continue to see the likelihood that this deal closes next spring. The stock remains ~5% below the deal price and with higher potential upside from select peers we are lowering our rating to a Hold."
Shares of BE Aerospace closed at $59.39 yesterday.
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