StandardAero initiated with a Neutral at BofA

BofA initiated coverage of StandardAero (SARO) with a Neutral rating and $34 price target The firm sees the company as a well-run commercial aerospace maintenance, overhaul, and repair business with growth opportunities ahead. However, being the “wrench-turner” versus “part-marker” limits StandardAero’s margin upside many investors associate with the aerospace aftermarket, the analyst tells investors in a research note.