20:10:22 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Heroux-Devtek Inc
Symbol HRX
Shares Issued 33,653,570
Close 2024-02-09 C$ 18.05
Market Cap C$ 607,446,939
Recent Sedar Documents

Globe says Poirier maintains Heroux-Devtek at "buy"

2024-02-09 08:43 ET - In the News

The Globe and Mail reports in its Friday, Feb. 9, edition that Desjardins Securities analyst Benoit Poirier is sticking with his "buy" recommendation for Heroux-Devtek. The Globe's David Leeder writes that Mr. Poirier gave his share target a $5 boost to $26. Analysts on average target the shares at $22. Following a third quarter beat, The Globe says Mr. Poirier was impressed by the company's ability to deliver on its margin promises "sooner than expected, despite the ongoing pressure in the aerospace supply chain environment." Mr. Poirier says in a note: "We are bullish on the margin outlook (with Heroux-Devtek pointing to margins above the historical level) given the greater throughput, increased efficiencies and the lack of M&A integration headwinds. Taking all of this into consideration, we forecast a 15.4-per-cent margin in FY25, just a touch below peak historical levels. ... We believe Heroux-Devtek offers a compelling value proposition to opportunistically unlock inorganic growth opportunities. We see more upside following a number of aerospace peer transactions at elevated multiples in recent months." The Globe reported on Aug. 10 that Mr. Poirier rated Heroux-Devtek "buy" when it was worth $15.70.

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