Morgan Stanley Downgrades Heico: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has downgraded Heico (NYSE:HEI) from Equal-weight to Underweight, reducing the price target from $184.00 to $174.00. Heico's shares are currently trading at $183.85, and the new price target suggests a potential decline of 5.36%. Heico is a leading aerospace and defense supplier, known for its replacement aircraft parts and defense components. The company is recognized for its acquisitive strategy, targeting cash flow positive companies with growth potential.
December 20, 2023 | 5:00 pm
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Morgan Stanley downgraded Heico to Underweight and lowered the price target from $184 to $174. The current trading price is $183.85, and the new target indicates a potential 5.36% decrease.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less favorable outlook for the company. The reduction in the price target by Morgan Stanley may lead investors to reevaluate the stock's value, potentially resulting in a decrease in Heico's share price to align with the new analyst expectations.
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