Heico price target raised to $350 from $335 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on Heico (HEI) to $350 from $335 and keeps an Outperform rating on the shares. The company reported strong Q3 results with EPS ahead of estimates and total revenue up 16% – 3% ahead of consensus, with organic growth of 11%, the analyst tells investors in a research note. The management’s overall commentary on the lack of impact from de-stocking and higher long-term FSG – Flight Support Group segment – margins were a positive for Heico outlook, the firm added.