StandardAero initiated with an Outperform at Bernstein

Bernstein initiated coverage of StandardAero (SARO) with an Outperform rating and $39 price target StandardAero is the largest pure-play aircraft engine maintenance, repair and overhaul company and should benefit from a “very strong” commercial aerospace aftermarket that has driven the shares of other players much higher, the analyst tells investors in a research note. The firm says strong demand has come from many aircraft life extensions resulting in large part from a failure of Boeing and Airbus to meet delivery demand.