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UBS has initiated coverage of Standard Aero Inc (NYSE: SARO) with a Neutral rating and a price target of $34.00, citing growth potential from aging aircraft fleets and key engine platforms, despite concerns over high valuation multiples. The company recently completed an IPO, raising $1.201 billion, while RBC Capital and JPMorgan have given more optimistic ratings, projecting significant sales growth in the engine maintenance sector. However, Standard Aero faces financial challenges, including a negative EPS and weak gross profit margins, which contribute to UBS's cautious outlook.
This week marks a significant period in the third quarter reporting season, starting with Rieter's investor day on Monday. Key healthcare companies, including Novartis and Idorsia, will report on Tuesday, alongside Straumann and Clariant, while UBS and Sunrise are set to present their results on Wednesday. The week continues with Geberit and Swisscom on Thursday, as various companies navigate challenges and opportunities in their respective sectors.
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ubs assigns neutral rating to standard aero with cautious growth outlook
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08:33 28.10.2024
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05:00 28.10.2024
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