TD Cowen upgraded Spirit AeroSystems to Outperform from Market Perform with a price target of $35, up from $27. The analyst cites the company’s enhanced cash flow prospects for the upgrade. The firm says stabilized 737 production and a moderated ramp following the Alaska MAX 9 incident augur improving 737 productivity. When coupled with an expected Airbus price negotiation and big inventory turn opportunity, Spirit AeroSystems should face a “robust” free cash flow rebound, the analyst tells investors in a research note.
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Read More on SPR:
- Spirit says negotiations with Airbus ‘productive’
- Spirit in talks with Airbus on operating, financial elements of contract
- Spirit AeroSystems fully aligned with Boeing, says CEO Shanahan
- Spirit AeroSystems has taken ‘hard look’ at processes since January 5
- Spirit AeroSystems Reports 2023 Results
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