FBR Capital: Read Through From United Technologies (UTX) and Textron (TXT) Earnings to Commercial Aerospace Names

FBR Capital: Read Through from United Technologies (NYSE: UTX) and Textron (NYSE: TXT) Earnings to Commercial Aerospace Names

FBR analyst says, "UTX and TXT both reported earnings this morning and offered end market commentary applicable to the commercial aerospace markets. Heading into the earnings season we thought that results would generally come in better than expected given the strong fundamentals in the industry. From today’s results, it seems that the aftermarket came in better than we expected and the outlook remains positive. We continue to remain cautious (on a relative basis to the OEM market) on the aftermarket growth given the rise in oil prices which have caused airlines to buy new fuel efficient aircraft instead of fixing their old aircraft but we think the market reads positively through these results and bids up the aftermarket names this morning including BE Aerospace (Nasdaq: BEAV), Goodrich (NYSE: GR), HEICO (NYSE: HEI)."

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