Credit Suisse analyst Robert Spingarn raised his price target for Heico to $163 from $133, while reiterating an Outperform rating on the shares. The analyst notes that despite a beat and raise across the board, shares dipped before paring losses. He attributes the weakness to decelerating organic growth, as well as a perception that Q2 margins may represent a high water mark, coupled with an eye-watering valuation. Though valuation remains in the "stratosphere," Spingarn continues to believe that Heico's exceptional execution, compounding cash flows, and solid M&A track record warrant a sizable premium, and would be a buyer on any weakness.