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Fly News Breaks for May 29, 2019
HEI
May 29, 2019 | 07:43 EDT
Canaccord analyst Ken Herbert said Heico posted better than expected Q2 results for both its business segments. The Flight Support Group (FSG) posted an organic growth rate of roughly 15% versus his estimate of 10% while the Electronic Technologies Group (ETG) posted growth of 20% which was also ahead of his estimates. He expects the top-line and margin performance will sustain the stock's elevated valuation. Herbert reiterated his Buy rating and $110 price target on Heico shares.
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