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Deutsche cuts Heico to Hold

Published 08/17/2017, 08:02 AM
© Reuters.  Deutsche cuts Heico to Hold
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  • Heico (HEI, HEI.A) -0.6% premarket after Deutsche Bank (DE:DBKGn) downgraded the stock from Buy to Hold, with a price target of $86 (from $80).
  • "We see potential for continued pressure from the narrowbodies/widebodies delivery mix (mgmt discussed last Q) as well as some slowness seen in pockets of the MRO and interior markets. Additionally, the stock is now trading at 37x our FY18 EPS estimate or ~2x its comm aero peer multiple, a 20% premium to its historical average which in the past has often proven to be a ceiling."
  • Now read: A Dad And His Two Boys Make HEICO A Buy


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