Heico price target raised to $264 from $248 at Truist

Truist raised the firm’s price target on Heico to $264 from $248 and keeps a Buy rating on the shares. The company’s Q3 results were “mixed”, but its Flight Support Group segment’s organic growth accelerated on an annual and sequential basis, driven by ongoing Wencor synergies and robust aero aftermarket tailwinds, the analyst tells investors in a research note. Airline buying patterns show no signs of slowing, and the firm expects the current demand backdrop – coupled with share gains – to enable Heico to keep outgrowing the overall market into FY25, the firm added.