Auriga Reiterates a 'Buy' on Spirit AeroSystems (SPR); Explosion in 2011 Aftermarket Deals
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Price: $21.15 -2.22%
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade SPR Now!
Auriga reiterates a 'Buy' on Spirit AeroSystems (NYSE: SPR) price target of $30.00.
Auriga analyst said, "Tuesday before the open, Spirit announced a multi-year spare parts agreement with Europe Airpost, which marks its fourth aftermarket agreement since the start of 2011. Although Spirit's aftermarket business is not widely discussed and represents a small portion of its revenue mix, we view it as an under recognized supplemental catalyst. More specifically, given Spirit's unique positioning on Boeing (NYSE: BA) platforms, coupled with its catalog of 14,000 parts and three global MRO facilities, we believe the company is well positioned to develop as a primary aerostructures spares supplier. While we do not view aftermarket as a primary top-line driver, we believe it could deliver upside to margins as the company adds incremental supply agreements."
For an analyst ratings summary and ratings history on Spirit AeroSystems click here. For more ratings news on Spirit AeroSystems click here.
Shares of Spirit AeroSystems closed at $24.67 yesterday, with a 52 week range of $14.27-$26.00.
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Auriga analyst said, "Tuesday before the open, Spirit announced a multi-year spare parts agreement with Europe Airpost, which marks its fourth aftermarket agreement since the start of 2011. Although Spirit's aftermarket business is not widely discussed and represents a small portion of its revenue mix, we view it as an under recognized supplemental catalyst. More specifically, given Spirit's unique positioning on Boeing (NYSE: BA) platforms, coupled with its catalog of 14,000 parts and three global MRO facilities, we believe the company is well positioned to develop as a primary aerostructures spares supplier. While we do not view aftermarket as a primary top-line driver, we believe it could deliver upside to margins as the company adds incremental supply agreements."
For an analyst ratings summary and ratings history on Spirit AeroSystems click here. For more ratings news on Spirit AeroSystems click here.
Shares of Spirit AeroSystems closed at $24.67 yesterday, with a 52 week range of $14.27-$26.00.
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