02:54 PM EDT, 05/22/2024 (MT Newswires) -- Heroux-Devtek ( HERXF ) reported results for fiscal Q4.

National Bank is maintaining its Outperform rating and upped its target to $29 from $26 previously following fiscal Q4 results that beat forecast.

"With demand in both the Defence and Civil segments to remain strong over a multi-year period, HRX's positioning on growing platforms, and the positive impact from the ongoing re-pricing of contracts, we see a sustained multi-year run of revenue growth and margin expansion ahead for the company," writes analyst Cameron Doerksen.

Doerksen notes that despite the strong share price performance in recent days, on National's updated F2025 forecast, Heroux-Devtek ( HERXF ) shares are trading at 8.7x EV/EBITDA versus the aerospace supplier peer group at ~15x current year EV/EBITDA.

Price: 22.67, Change: +1.72, Percent Change: +8.21