Barclays Reiterates an 'Overweight' on Wesco Aircraft (WAIR); Solid Close to FY2011, Story Unfolding

Barclays reiterates an 'Overweight' on Wesco Aircraft Holdings (NYSE: WAIR) price target of $18.00.

Barclays analyst says, "WAIR Q4 results were good, with EPS coming in $0.02 ahead of consensus on revenues that were $3 million (or ~2%) ahead of consensus. Adjusted EBIT margins were largely in line with our estimate and FCF of ~$34 million was a notable positive in the quarter. Initial adjusted EPS guidance of $1.03-$1.07 was ahead of consensus EPS of $1.02 and despite revenue guidance ($760-$785 million) that was shy of consensus at the midpoint; we sense that there is some conservatism on this front."

"We think the WAIR conference call offered some points of clarification to support our view that investor concerns around top-line growth and potential Boeing (NYSE: BA) disintermediation are overblown and overly discounted into the price of WAIR shares. As these concerns fade and investor familiarity and interest continue to rise, we see room for significant multiple expansion and strong multi-year EPS growth."

For an analyst ratings summary and ratings history on Wesco Aircraft Holdings click here. For more ratings news on Wesco Aircraft Holdings click here.

Shares of Wesco Aircraft Holdings closed at $11.44 yesterday.

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