Spirit AeroSystems price target raised to $22 from $17.70 at TD Cowen

TD Cowen raised the firm’s price target on Spirit AeroSystems (SPR) to $22 from $17.70 and keeps a Market Perform rating on the shares. The firm said Boeing’s (BA) MOA with Sirit AeroSystems is a key 2023-2025 cash plus that averts a potential cash flow crisis and justifies yesterday’s higher stock price. The MOA waives all claims that Boing might have against Sirit, thus erasing any liability related to the 737 fittings and 737 aft pressure bulkhead issues.