SunTrust analyst Michael Ciarmoli lowered the firm's price target on Spirit AeroSystems (SPR) to $50 from $66 and keeps a Sell rating on the shares. The analyst cites the company's "mixed" Q4 results, with earnings below consensus, weak margins, and forward losses, even though the management expressed hope in ending the year with a positive cash run rate. Ciarmoli adds that while Spirit AeroSystems' long-term margins and cash conversion metrics remain intact, the near term will see a high degree of uncertainty related to the timing of Boeing's (BA) 737 MAX aircraft returning to service.

Citi lowered the firm's price target on Boeing to $224 from $252 and keeps a Buy rating on the shares. The company's Q1 results were better than expected, but "it's clear there is much left to do," the analyst tells investors in a research note. The firm believes Boeing "will come through this healthier than before." This should position it well to take advantage of its duopoly position in commercial aerospace at a time when backlogs stretch out for roughly a decade and customers are clamoring for new aircraft, contends Citi.

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Reports Q1 revenue $16.6B, consensus $15.22B. "Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Dave Calhoun, Boeing president and CEO. "We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future."