Spirit AeroSystems price target raised to $35 from $33 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on Spirit AeroSystems (SPR) to $35 from $33 and keeps a Sector Perform rating on the shares after its Q1 results. MAX and 787 production expectations have been lowered to 31 per month and now only 55 787s for FY24, and the merger discussions with Boeing (BA) is now the most important factor for the stock as the company’s financial outlook has significantly weakened, the analyst tells investors in a research note.