Heico price target raised to $272 from $250 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on Heico to $272 from $250 and keeps an Outperform rating on the shares after its Q3 earnings beat. The highlight of the quarter was the 15% organic Flight Support Group segment growth, driven by 17% organic growth in aftermarket replacement parts, the analyst tells investors in a research note. The outlook remains robust for revenue and margin upside, with aerospace and defense fundamentals supporting a continued bullish outlook, and electronics and medical bottoming out, the firm added.