UPDATE: Topeka Raises PT on Heico Following Stronger F3Q13 Report

In a report published Thursday, Topeka Capital Markets analyst Michael Callahan reiterated a Buy rating on

, and raised the price target from $60.00 to $70.00. In the report, Topeka Capital Markets noted, “Heico reported a much better-than-expected F3Q13, with EPS of $0.54, and well ahead of Street expectations of $0.47. We believe the conference call added to investor confidence in the Company, as it appears clear Heico continues to outperform its peer group with strong organic growth. As such, we are taking our estimates higher and increasing our price target to $70 (from $60).” Heico Corp. closed on Thursday at $60.43.