Heico price target raised to $190 from $169 at Truist

Truist analyst Michael Ciarmoli raised the firm’s price target on Heico to $190 from $169 and keeps a Buy rating on the shares. The company’s Flight Support Group segment margins continued to surprise to the upside and will likely remain elevated as strong demand continues to drive better than expected organic growth, the analyst tells investors in a research note. The firm added that Heico’s supply chain pressures should ease, raising its FY23 EPS view by 16c to $3.17 and his FY24 view by 25c to $3.63.