Friday December 21, 12:05 PM
Heico "buy," target price raised
NEW YORK, December 21 (newratings.com) - Analysts at DA Davidson reiterate their "buy" rating on Heico Corp (ticker: HEI (HEII - news) ), while
raising their estimates for the company. The 12-18 month target price has been raised from $45 to $52.
In a research note published this morning, the analysts mention that the company has posted its 4Q EPS ahead of the estimates and the consensus. Heico's revenues were ahead of the estimates, with higher-than-expected revenues at Flight Support Group and Electronic Technologies Group, the analysts say. The EPS estimates for FY08 and FY09 have been raised from $1.75 to $1.77 and from $2.00 to $2.13, respectively.
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