Spirit Aerosystems (SPR) was upgraded to outperform by RBC Capital Markets on November 10, 2014.
RBC Capital upgraded Spirit Aerosystems to Outperform from Sector Perform. RBC cited valuation and its belief that improvements on several airplanes will cause estimates for Spirit to rise. The 12-month target price also rose from $43 to $50 – SPR opened the day trading at $41.30.
It is not surprising to see an airline parts manufacturer receive an upgrade today based on the outlook for the entire airline industry due to falling oil and jet fuel prices.
About Spirit Aerosystems (SPR)
Spirit AeroSystems Holdings, Inc., through its subsidiaries, operates as a non-original equipment manufacturer (OEM) that designs and manufactures commercial aerostructures worldwide. It operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems.