Heico price target raised to $210 from $200 at RBC Capital

RBC Capital raised the firm’s price target on Heico to $210 from $200 and keeps an Outperform rating on the shares after its better than expected Q4 results. The company saw 12% organic growth in the quarter with a $250M of acquisition contribution generating total sales growth of 54%, while the estimated acquisition-related margin hit in FY24 is less than feared, the analyst tells investors in a research note. The initial organic FY24 revenue outlook was very conservative, but RBC is optimistic about the top-line outlook for the Flight Support Group segment and upside to the margin outlook, the firm added.