Heico Upgraded To Neutral At BofA, With Unchanged Price Target

BofA analyst Ronald Epstein upgraded Heico Corp HEI to Neutral from Underperform with an unchanged price target of $135, implying an upside of 8.06%.
The rating change was after its Q3 results marked the fourth consecutive quarter of sequential topline growth.
Epstein states that the company's sequential improvement was driven by the continued recovery of the commercial aerospace end-market and adds that Heico looks well-positioned for the post-pandemic world.
Epstein further states that the company's value will be enhanced as "strained" airline finances drive higher demand for the company's "cost-saving" products and services.
Price Action: HEI shares closed higher by 1.54% at $124.97 on Wednesday.