HEICO (HEI) PT Raised to $100 at Canaccord Genuity Following 2Q

Canaccord Genuity analyst Ken Herbert raised the price target on HEICO (NYSE: HEI) to $100.00 (from $90.00) while maintaining a Hold rating following the company's 2Q earnings report. The company posted total 2Q sales decline of 9% and a 9% decline in EBITDA. The company also reported EPS of $0.55 as compared to estimates of $0.41. The company has continued to withhold its FY20 guidance.

Management indicated that February was close to a record month, March was very good, and then April saw a significant slowdown. Canaccord Genuity slightly raised full year FY20 EPS estimate to now $2.30.

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