Heico price target raised to $271 from $235 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Heico to $271 from $235 and keeps a Buy rating on the shares after the company reported Q3 results, with revenue/EBITDA in-line, EPS 5% above Street, and free cash flow 13% above Street. Importantly, organic growth reaccelerated at FSG to 15% from 12% last quarter, and the company’s prospective commentary remained quite bullish on the outlook for FSG as Heico hasn’t seen signs of a slowdown in demand, and the acquisition of Wencor continues to bear fruit.