StandardAero lifts ahead of S&P MidCap inclusion

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&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&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