Heico price target raised to $315 from $285 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on Heico (HEI) to $315 from $285 and keeps an Outperform rating on the shares. The company reported a “strong” Q2 with 11% organic growth rate while its Flight Support Group – FSG – segment showed particularly strong results in the quarter with organic growth of 14%, the analyst tells investors in a research note. The commentary on the FSG outlook was also notably bullish, and the risks associated with slower airline growth are not materializing, RBC added.