SunTrust analyst Michael Ciarmoli raised his price target on Heico to $97 and kept his Buy rating after its "strong" Q3 results, saying the quarter "exceeded expectations on organic revenue growth acceleration" in both Flight Support Group and Electronic Technologies Group segments. The analyst expects sustained strength of defense and aftermarket demand to continue supporting the stock, adding that the latest pro-competition International Air Transport Association agreement with CFM will remove the overhang regarding Heico's total market expansion over the long term, even though Ciarmoli does not expect the benefits from this deal to materialize over the next 12-18 months.