Wells Fargo Maintains an 'Outperform' on Spirit AeroSystems (SPR); Adding To The Priority Stock List

Wells Fargo maintains an 'Outperform' on Spirit AeroSystems (NYSE: SPR) price target range $25-27.

Wells analyst says, "We are adding Spirit Aerosystems to the Priority Stock List as we expect the OEM to grow faster than the commercial aerospace market in 2012..SPR derives more than 90% of its revenue supplying fuselage, wing, and propulsion/nacelle systems for new Boeing (NYSE: BA) and Airbus aircraft, perhaps the best pureplay supplier to the OEM market."

"SPR shares at 8.8x 2012E EPS (vs. commercial suppliers 13.3x 2012E) remain attractive, in our view. We believe the company should be able to earn more than $3/share by 2014 mostly due to the company's leverage to Boeing aircraft production, and relatively little earnings contribution from the aftermarket, military or new development commercial programs."

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 $20.78 yesterday.

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