Loar Holdings price target raised to $80 from $65 at RBC Capital

RBC Capital raised the firm’s price target on Loar Holdings to $80 from $65 and keeps an Outperform rating on the shares. The company reported “strong” Q2 results with 17% growth in organic sales, raised its 2024 guidance, and also provided bullish commentary on its M&A outlook and strength in the critical commercial aerospace aftermarket, the analyst tells investors in a research note. Loar has executed on its first full quarter as a public company about as well as can be expected, and RBC continues to see positive sentiment supporting the stock, the firm added.