Spirit AeroSystems CFO transition ‘not surprising,’ says Jefferies

After Spirit AeroSystems (SPR) announced that CFO Mark Suchinski has tendered his resignation to pursue another opportunity, Jefferies said the transition is “not surprising to us” as Spirit works toward stabilizing and improving quality on the 737 and also the “likely reintegration” into Boeing (BA). Spirit is “instrumental” to Boeing’s success, with value likely in excess of Spirit’s standalone value, argues the analyst, whose sum-of-the-parts methodology values Spirit at $38 per share, the firm’s price target on the Buy-rated stock.