HEICO (HEI) PT Raised to $243 at Baird

Baird analyst Peter Arment raised the price target on HEICO (NYSE: HEI) to $243.00 (from $223.00) while maintaining a Outperform rating.

The analyst commented: "HEI delivered a strong 2Q24 print, driven by ~10% company-wide organic growth led by 12% FSG organic growth, while record ETG backlog sets up favorable 2H24 performance. Broad-based strength in global air travel coupled with strong execution and synergistic benefits tied to Wencor, provides upside to management's FSG margin outlook. Record backlogs at ETG provides confidence in top-line growth and margin expansion for FY24, with Defense sales set to improve the next six months. We are raising our price target to $243 and reiterate our bullish outlook on this print."

You May Also Be Interested In

• Sun Pharmaceutical Industries Ltd. (SUNP:IN) PT Raised to INR2,238 at Elara Securities India
• Oil States International (OIS) PT Lowered to $14 at Stifel
• Neurocrine Bio. (NBIX) PT Raised to $215 at Stifel