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Fly News Breaks for August 29, 2019
HEI
Aug 29, 2019 | 08:37 EDT
SunTrust analyst Michael Ciarmoli raised his price target on Heico to $160 and kept his Buy rating after its Q3 earnings beat and raised FY19 guidance. The analyst notes that although the company's organic growth slowed and Electronic Technologies Group business margins weakened the company is still benefiting from a "robust" commercial aero and defense growth environment. Ciarmoli believes that Heico's continued market share gains and rising DoD penetration will add to its future revenue growth.
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