Baird Upgrades Spirit AeroSystems (SPR) to Outperform, 'CEO Progress Warrants Backing'

Baird analyst Peter Arment upgraded Spirit AeroSystems (NYSE: SPR) from Neutral to Outperform with a price target of $36.00 (from $30.00).

The analyst comments "We are upgrading SPR to Outperform and are increasing our price target to $36 with various catalysts still in play near term with 2024 representing a cleaner story with improved unit economics on BA programs. New interim CEO, Pat Shanahan is wasting no time in tackling high-urgency problem areas within SPR, setting up 2024 as an execution year and improved financial performance. Revising the Airbus production contract is the likely next catalyst for SPR which is expected by February 2024. SPR is a turnaround story with a potential path to $50+."

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 $26.16 yesterday.

You May Also Be Interested In

• Kymera Therapeutics (KYMR) PT Raised to $155 at B.Riley
• Bernstein SocGen Group Resumes Natera (NTRA) at Outperform
• Gossamer Bio Inc. (GOSS) PT Lowered to $2 at H.C. Wainwright