RBC Capital Raises Price Target on B/E Aerospace (BEAV) Following 3Q Beat

RBC Capital reiterated a Sector Perform rating on BE Aerospace (NASDAQ: BEAV), and raised the price target to $48.00 (from $47.00), following the company's 3Q15 earnings results. Adjusted EPS, excluding a $31m restructuring charge, came in at $0.73, below consensus of $0.76. Management left 2015 guidance unchanged and fleshed out its 2016 forecasts.

Analyst Robert Stallard commented, "Adjusted EPS, excluding a $31m restructuring charge, came in at $0.73, below consensus of $0.76. Revenues for the quarter of $680m were $19m lower than we had expected, with a notable shortfall in Commercial Aircraft. Its sales of $508m were down 1% YoY and flat excluding FX. This was partially offset by a strong quarter in Business Jet, with sales of super first class product driving +23% revenues. The margin story was the other way round: Commercial Aircraft came in ahead of our forecast at 18.9% whilst Business Jet was below at 16.3%. BEAV blamed mix in both directions."

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

Shares of BE Aerospace closed at $44.72 yesterday.

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