Embraer price target raised to $55 from $40 at BofA

BofA raised the firm’s price target on Embraer (ERJ) to $55 from $40 and keeps a Buy rating on the shares. After having attended the 2024 Embraer Investor Summit, the firm says Embraer’s “greatest differentiating factor is how core being an engineering innovator is to the company’s core identity” and adds that it sees the strong backlog, deliveries, and improving financial profile of the company as “a testament to the strategy working.” The firm says its raised target reflects stronger than expected deliveries and demand across segments.