Goldman Sachs Downgrades Embraer (ERJ) to Neutral

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Goldman Sachs downgraded Embraer (NYSE: ERJ) from Buy to Neutral with a price target of $40, saying shares have outperformed despite regional jet orders slowing.

The firm said they like the long-term story, but with shares up 40% YTD it has largely closed its valuation discount with Aerospace peers. This despite the order pace in the key regional jet end market showing meaningful deceleration.

For an analyst ratings summary and ratings history on Embraer click here. For more ratings news on Embraer click here.

Shares of Embraer closed at $35.29 yesterday, with a 52 week range of $20.98-$35.30.

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