Wesco Aircraft Holdings (WAIR) PT Raised to $8 at Cowen Following 1Q
Cowen raised its price target on Wesco Aircraft Holdings (NYSE: WAIR) to $8.00 (from $7.00) while maintaining a Market Perform rating following the company's 1Q earnings report. Adjusted EPS of $0.15 exceeded the Street's $0.13 on a sales beat ($363MM vs. Street's $347MM) and better gross margin. Total sales grew 7% Y/Y, with 6% from organic growth.
CEO Renehan intends to update investors on the firm's turnaround strategy, after the conclusion of the consultant study. Mr. Renehan indicates that enhanced automation (robotics vs. manual labor) and inventory management are apt to be points of emphasis.