Loar Holdings price target raised to $88 from $64 at Citi

Citi analyst Jason Gursky raised the firm’s price target on Loar Holdings to $88 from $64 and keeps a Buy rating on the shares following the Q2 report. The analyst sees a path to $115 per share over time given the firm’s forecasted five-year earnings power of the company. Citi expects low-teens organic growth over the next several years driven by the expansion of airline traffic, higher build rates, new product introductions, higher pricing, and share gains. It also expects acquisitions to play an important role in Loar’s growth.