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.