HEICO Corporation (NYSE:HEI) announced that it has closed its acquisition of Exxelia for $460 million, or approximately €453 million. The transaction represents the largest in the company’s history.
RBC Capital analysts believe this will be a positive catalyst for the stock. The analysts raised their fiscal 2023 and 2024 EPS estimates to $3.18 and $3.65, respectively.
The analysts expect total leverage to peak at under 1x, with lower interest expense in 2023 a source of EPS upside. The analysts continue to like the company for incremental upside from M&A, defense supply chain improvement, and its position in the commercial aerospace aftermarket.
At CWEB, we are always looking to expand our network of strategic investors and partners. If you're interested in exploring investment opportunities or discussing potential partnerships and serious inquiries. Contact: jacque@cweb.com