Spirit AeroSystems price target raised to $35 from $30 at Truist

Truist analyst Michael Ciarmoli raised the firm’s price target on Spirit AeroSystems (SPR) to $35 from $30 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in the Aerospace & Defense sector. The setup for commercial aero OEM will be challenged amid well-telegraphed supply chain and production issues, though the aero aftermarket group should see “another strong showing”, with upside to consensus expectations set to unfold, the analyst tells investors in a research note. For the company, the firm further cites lower MAX production rates and related overhead absorption issues, adding however that the pending acquisition by Boeing (BA) makes the likelihood of weak Q2 “less meaningful”.