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Here's Why Heico Shares Soared Today

TheMotleyFool

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Here's Why Heico Shares Soared Today: https://g.foolcdn.com/editorial/images/872052/gettyimages-1284111578-1200x800-5b2df79.jpg

Heico (NYSE: HEI) (NYSE: HEIA) shocked the market with its second-quarter earnings report, and investors wasted no time in sending the stock higher by 10.7% at 1 p.m. today.

Wall Street analyst upgrades and downgrades are usually a good way to gauge sentiment over a stock. In this case, Jefferies lowered its price target (but maintained its buy rating) from $400 to $375 in anticipation of the earnings report.

The earnings report came in and blew away Wall Street expectations in both the Flight Support Group (FSG) and the Electronic Technologies Group (ETG). Jefferies responded by hiking its price target to $410.

Source Fool.com

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