StandardAero initiated with a Neutral at UBS

UBS initiated coverage of StandardAero (SARO) with a Neutral rating and $34 price target The firm sees “many favorable aspects” for the story, like StandardAero’s pure-play engine aftermarket exposure with end-market tailwinds like an older fleet amidst depressed new aircraft deliveries. However, the stock’s valuation already appears to reflect robust multi-year growth, the analyst tells investors in a research note.