In a report released yesterday, Ronald Epstein from Bank of America Securities maintained a Buy rating on HEICO, with a price target of $355.00.
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Ronald Epstein’s rating is based on HEICO’s strong financial performance, particularly in its recent quarterly results. The company reported an adjusted EPS of $1.26, surpassing both Bank of America’s estimate of $1.12 and the broader market’s expectation of $1.14. This outperformance was attributed to improved operating margins and a favorable tax rate.
Additionally, the Flight Support Group (FSG) demonstrated robust growth, with revenues increasing by 18% year-over-year and achieving operating margins slightly above expectations. Although the Electronic Technologies Group (ETG) experienced a year-over-year decline, the overall operational margin of the company exceeded market predictions, reinforcing a positive outlook for investors. These factors collectively underpin Epstein’s Buy rating for HEICO.
Epstein covers the Industrials sector, focusing on stocks such as Boeing, RTX, and Rocket Lab USA. According to TipRanks, Epstein has an average return of 17.4% and a 64.85% success rate on recommended stocks.