B/E Aerospace (BEAV) Stock Rating Upgraded at Canaccord Genuity - TheStreet

NEW YORK (TheStreet) -- B/E Aerospace (BEAV)  stock was upgraded to "buy" from "hold" at CanaccordGenuity on Friday. The firm raised its price target on the stock to $60 from $50.

The Wellington, FL-based company provides cabin interior products for commercial aircraft. B/E Aerospace's stock rating was upgraded after the company said earlier this week its revenue in 2017 would increase 7.5% year-over-year.

This estimate is conservative, Canaccord said.

"We believe visibility has improved, and as the company comes out of a relatively disappointing 2015 and the recent spinover hang, and we believe as investors start to factor in the 2017-2018 potential, we will continue to see multiple expansion and a re-rating on the shares," Canaccord continued.

Canaccord analysts raised their 2016 earnings estimate for B/E Aerospace to $3.20 from $3.17 per share and its 2017 earnings estimate to $3.72 from $3.56 per share.

Shares of B/E Aerospace were down by 0.27% to $47.43 in late morning trading on Friday.

Image placeholder title

BEAV

data by

YCharts