Spirit AeroSystems (SPR) Bull Get More Bullish, Shares up 6%
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Price: $39.50 --0%
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 15 | New: 9
Rating Summary:
10 Buy, 22 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 15 | New: 9
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Shares of aerospace company Spirit AeroSystems (NYSE: SPR) are breaking out today and appear to be benefiting from bullish comments at Jefferies, following a recent investor meeting.
The firm highlighted the stock as an attractive investment vehicle for those that want to participate in the expansion of civil aircraft production. The company is Boeing's (NYSE: BA) largest supplier of structural components, and a leading supplier to Airbus.
Jefferies noted that management made a reasonable case that it can improve its performance, with some benefit falling to the bottom line. Management indicated that revenues could be in the range of $6.3 billion for 2014, with a target margin of about 7%. The firm has 2014 revenues pegged at $6.5 billion and EPS at $3.05.
The firm also notes that management has taken aggressive steps to improve operation performance. Productivity at Thrust Reversers has risen and volume has grown significantly, but headcount has remained relatively flat. The recent increase in the 737 production rate to 35 shipsets per month from 31.5 happened without a hitch, they highlighted.
The firm maintained their Buy rating and $28 price target.
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 are up 6.4 percent to $25.27.
The firm highlighted the stock as an attractive investment vehicle for those that want to participate in the expansion of civil aircraft production. The company is Boeing's (NYSE: BA) largest supplier of structural components, and a leading supplier to Airbus.
Jefferies noted that management made a reasonable case that it can improve its performance, with some benefit falling to the bottom line. Management indicated that revenues could be in the range of $6.3 billion for 2014, with a target margin of about 7%. The firm has 2014 revenues pegged at $6.5 billion and EPS at $3.05.
The firm also notes that management has taken aggressive steps to improve operation performance. Productivity at Thrust Reversers has risen and volume has grown significantly, but headcount has remained relatively flat. The recent increase in the 737 production rate to 35 shipsets per month from 31.5 happened without a hitch, they highlighted.
The firm maintained their Buy rating and $28 price target.
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 are up 6.4 percent to $25.27.
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