Heico price target raised to $335 from $315 at RBC Capital

RBC Capital raised the firm’s price target on Heico (HEI) to $335 from $315 and keeps an Outperform rating on the shares ahead of its Q3 results next week. The firm is modeling 11% organic growth and positive aftermarket commentary to support the aftermarket super-cycle commentary, the analyst tells investors in a research note. Heico’s greater engine exposure can continue to generate low double digit organic growth in FSG – Flight Support Group – with ETG – Electronic Technologies Group – in the mid-single-digit range, the firm added.