Benzinga | Sep 8, 2021 05:14PM EDT

Heico Upgraded To Neutral At BofA, With Unchanged Price Target

* BofA analyst Ronald Epstein upgraded Heico Corp (NYSE:HEI) to Neutral from Underperform with an unchanged price target of $135, implying an upside of 8.06%.

* The rating change was after its Q3 results marked the fourth consecutive quarter of sequential topline growth.

* Epstein states that the company's sequential improvement was driven by the continued recovery of the commercial aerospace end-market and adds that Heico looks well-positioned for the post-pandemic world.

* Epstein further states that the company's value will be enhanced as "strained" airline finances drive higher demand for the company's "cost-saving" products and services.

* Price Action: HEI shares closed higher by 1.54% at $124.97 on Wednesday.