10:20:53 EDT Thu 02 May 2024
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or Name
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Heroux-Devtek Inc
Symbol HRX
Shares Issued 33,653,570
Close 2024-04-16 C$ 19.51
Market Cap C$ 656,581,151
Recent Sedar Documents

Globe says Heroux-Devtek maintained at "outperform"

2024-04-17 07:52 ET - In the News

The Globe and Mail reports in its Wednesday, April 17, edition that National Bank Financial analyst Cameron Doerksen sees a period of multiyear growth for Heroux-Devtek. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen calls Heroux-Devtek one of his "top ideas." Mr. Doerksen continues to rate Heroux-Devtek "outperform." He boosted his share target by $2 to $25. Analysts on average target the shares at $23.90. Mr. Doerksen says in a note: "We maintain our 'outperform' rating on Heroux-Devtek ahead of fiscal Q4 results (ended March) that will be released later in May. Although some challenges remain in the aerospace supply chain, Heroux-Devtek's Q3 results showed a solid improvement in throughput as well as the margin benefits from repricing of contracts. Management indicates that it sees a continued upward trend in sales volumes and a path to margins that can exceed margins the company has generated in the past (past normalized EBITDA margin range of 15 to 16 per cent). With demand in both the defence and civil segments remaining strong over a multiyear period, we see a sustained run of revenue growth and margin expansion ahead for the company."

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