Stifel Nicolaus Maintains Buy on HEICO

Stifel Nicolaus is out with its report today on HEICO HEI, maintaining Buy. In its report, Stifel Nicolaus writes, "We maintain our Buy rating on HEI shares and $64 target price. Our target is based on a multiple of about 14.5x F2011E EBITDA, somewhat higher than peers. The multiple on HEICO's trailing 12-month EBITDA is about 11.7x, which is near the low end of the historical range." Shares of HEI closed Monday at $44.34.