Goldman Sachs Touts Loar Holdings Inc. (LOAR) Aerospace Market Prospects

Loar Holdings Inc. (NYSE:LOAR) is one of the best industrial stocks to buy according to Wall Street analysts. Loar Holdings Inc. (NYSE:LOAR) has a Strong Buy rating from 4 Wall Street analysts. The average price target on the stock is $86.56, implying 30.42% upside potential from current levels of $66.37 a share.

On December 1, the company amended its Credit Agreement to increase the loan commitment by $175 million to $275 million. It also extended the term loan’s availability period through September 30, 2026. The adjustments follow record third-quarter sales of $127 million, driven by strong demand in the aerospace and defense sectors. It also achieved a net income of $19 million.

Meanwhile, analysts at Goldman Sachs initiated coverage of the stock on November 25 with a Buy rating and a $91 price target. Analyst Noah Poponak called Loar a high-quality aerospace aftermarket M&A compounder that is still early in its development but already stands out for having one of the strongest financial profiles in the group he follows. Goldman pointed to the company’s steady fundamentals and its growing presence in the aerospace components market as it continues to build its position in the industry.

Loar Holdings Inc. (NYSE:LOAR) is a diversified aerospace and defense company that designs and manufactures niche, critical components for commercial, business, and general aviation, focusing on creating a global alliance of specialized companies.

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