Jefferies Lifts StandardAero, Inc. (SARO) Price Target After 14% Organic Growth

StandardAero, Inc. (NYSE:SARO) is one of the best stocks to invest in according to billionaire George Soros. The company delivered solid second-quarter results, showing 14% organic growth, driven by a strong performance in the Commercial Aftermarket business, which increased by 14%.

Revenue in the second quarter was up 13.5% year-over-year to $1.53 billion. Consequently, on August 19, analysts at Jefferies reiterated a ‘Buy’ rating on the stock and raised the price target to $40, impressed by the solid second-quarter results.

The research firm is also buoyed by the profitability in the first half of the year, which exceeded expectations. Similarly, Jefferies has raised its adjusted EBITDA for the year to 13.6% up from the previous 13.3%.

StandardAero, Inc. (NYSE:SARO) provides maintenance, repair, and overhaul (MRO) services for aircraft engines and airframes across various aviation sectors, including business, commercial, military, and rotary-wing aircraft. The company performs engine inspections; component repair, avionics upgrades, interior and paint work, and offers engineering solutions.

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Disclosure: None. This article is originally published at Insider Monkey.