StandardAero (SARO.N) shares up 2.4% at $33.27 on very thin volume before the bell as aircraft maintenance services firm set to join S&amp;P MidCap 400 index (.IDX) this week SARO to replace Frontier Communications (FYBR.O) in the IDX prior to market open on Thurs, Jan 22, S&amp;P Dow Jones Indices said late Fri Verizon (VZ.N) is acquiring fiber-optic internet provider FYBR in $20 bln deal
Stephens analyst Melissa Roberts said she expects passive funds will need to purchase 17 mln SARO shares, implying 10.5 days of buying demand
Scottsdale, Arizona-based SARO has ~334.5 mln shares outstanding for roughly $11 bln market cap
Private equity firm Carlyle Group (CG.O) is SARO’s largest shareholder with ~152.67 mln shares followed by Singapore’s sovereign wealth fund GIC with ~34.46 mln shares, per LSEG data
Through Fri close, SARO shares up ~36% over the past year
8 of 12 analysts rate the stock “strong buy” or “buy”, 4 “hold”; median PT $37 - LSEG data (Lance Tupper is a Reuters market analyst. The views expressed are his own)

SARO

Reuters

Invesco Aero & Defense ETF

BUZZ-StandardAero lifts ahead of S&P MidCap inclusion