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BA

Boeing

$241.93

1.35 (0.56%)

, ATRO

Astronics

$28.25

-0.03 (-0.11%)

07:26
09/14/17
09/14
07:26
09/14/17
07:26

Boeing production increase positive for suppliers, says SunTrust

SunTrust analyst Michael Ciarmoli says that Boeing's (BA) decision to increase its production to 14 planes per month in 2019, up from 12 currently, was "surprising" to many investors, including him, who expected the company to maintain or cut its current production level. He thinks that the decision increases the chances that the 2018 and 2019 estimates for airplane suppliers will rise. The analyst says that the following companies can benefit from Boeing's production increase: Astronics (ATRO), Barnes Group (B),Rockwell Collins (COL), KLX Inc. (KLXI), Spirit AeroSystems (SPR),Triumph Group (TGI), Wesco Aircraft (WAIR),and Woodward (WWD),

BA

Boeing

$241.93

1.35 (0.56%)

ATRO

Astronics

$28.25

-0.03 (-0.11%)

B

Barnes Group

$64.60

0.32 (0.50%)

COL

Rockwell Collins

$131.21

0.24 (0.18%)

KLXI

KLX Inc.

$47.34

0.57 (1.22%)

SPR

Spirit AeroSystems

$75.32

0.61 (0.82%)

TGI

Triumph Group

$27.25

0.25 (0.93%)

WAIR

Wesco Aircraft

$8.75

0.15 (1.74%)

WWD

Woodward

$72.50

1.17 (1.64%)

  • 14

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    Sep

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    Sep

  • 19

    Sep

  • 04

    May

BA Boeing
$241.93

1.35 (0.56%)

09/14/17
DBAB
09/14/17
NO CHANGE
Target $300
DBAB
Buy
Boeing price target raised to $300 from $280 at Deutsche Bank
Deutsche Bank analyst Myles Walton raised his price target for Boeing to $300 after CEO Dennis Muilenburg announced yesterday at a conference that the company will raise the production rate on the 787 to 14 per month in 2019 from the current 12 per month. Boeing wouldn't list the rate unless it had the visibility to maintain it for two-to-three years, Walton tells investors in a research note. The analyst sees the extra 24 planes per year adding approximately $4B in sales and $1B in cash gross margin in 2020, which he notes points to 5% positive earnings revision. Walton thinks Boeing is "knocking on the door" of $25 per share in free cash flow. The analyst raised his estimates and reiterates a Buy rating on the shares.
09/06/17
STFL
09/06/17
NO CHANGE
STFL
Stifel says United Tech deal strategic, not a sign of M&A 'floodgates opening'
Stifel analyst Joseph DeNardi said one of the only risks he sees to defense stocks' multiples would be a shift in cash deployment strategy from a focus on dividends and buybacks to M&A. However, he views United Technologies' (UTX) planned acquisition of Rockwell Collins (COL) as strategic and largely focused on its desire to regain leverage against Boeing (BA) and Airbus (EADSY) and not indicative of the M&A "floodgates opening" in the defense sector. Other publicly traded companies in the defense space include BAE Systems (BAESY), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).
08/21/17
UBSW
08/21/17
NO CHANGE
Target $81
UBSW
Buy
Spirit AeroSystems price target raised to $81 from $63 at UBS
UBS analyst David Strauss raised his price target on Spirit AeroSystems (SPR) to $81 from $63 to incorporate Q2 upside and pricing MOU with Boeing (BA). Strauss reiterated his Buy rating on Spirit AeroSystems shares, also noting the shares trade at a 20-30% discount to its peers.
09/14/17
RHCO
09/14/17
NO CHANGE
RHCO
Boeing has positive read through from 787 production increase, says SunTrust
SunTrust analyst Michael Ciarmoli says that the decision by Boeing to increase its production rate to 14 planes per month in 2019 "will help justify" Boeing stock's current valuation and provide evidence that the expansion in airplane demand is continuing. He says that "many investors," including him, thought that the company would maintain its current levels of 12 planes per month, and thought that the company could cut its production to ten planes per month. Ciarmoli does not have a rating on the stock.
ATRO Astronics
$28.25

-0.03 (-0.11%)

11/09/16
ADAM
11/09/16
NO CHANGE
Target $38
ADAM
Buy
Astronics stock reaction overdone, says Canaccord
Canaccord analyst Ken Herbert noted Astronics reported disappointing Q3 results due to weaker revenues in the Aerospace segment. The analyst said management's inability to provide greater detail on the revenue shortfall was surprising, but he believes the stock reaction was overdone. Herbert reiterated his Buy rating but lowered his price target to $38 from $45 on Astronics shares.
01/19/17
RHCO
01/19/17
INITIATION
RHCO
Hold
Astronics initiated with a Hold at SunTrust
SunTrust analyst Michael Ciarmoli started coverage of Astronics with a $35 price target and a Hold rating.
B Barnes Group
$64.60

0.32 (0.50%)

04/24/17
SIDC
04/24/17
DOWNGRADE
SIDC
Neutral
Barnes Group downgraded to Neutral from Buy at Sidoti
04/04/17
JEFF
04/04/17
NO CHANGE
Target $57
JEFF
Buy
Barnes Group price target raised to $57 from $46 at Jefferies
Jefferies analyst Bhupender Bohra raised his price target for Barnes Group to $57 saying the company's "portfolio transformation story is coming along well." The analyst sees Barnes' earnings profile improving and he keeps a Buy rating on the shares.
01/19/17
RHCO
01/19/17
INITIATION
RHCO
Hold
Barnes Group initiated with a Hold at SunTrust
SunTrust analyst Michael Ciarmoli started coverage of Barnes Group with a $49 price target and a Hold rating.
07/31/17
OPCO
07/31/17
NO CHANGE
Target $67
OPCO
Outperform
Barnes Group price target raised to $67 from $58 at Oppenheimer
Oppenheimer analyst Christopher Glynn raised his price target for Barnes Group to $67 from $58 as organic momentum "surged," with short-term Industrial operating inefficiencies neutralizing the impact, and tax benefit defining the EPS guidance raise. He reiterates an Outperform rating on the shares.
COL Rockwell Collins
$131.21

0.24 (0.18%)

09/07/17
WOLF
09/07/17
DOWNGRADE
WOLF
Peer Perform
Rockwell Collins downgraded to Peer Perform from Outperform at Wolfe Research
Wolfe Research analyst Hunter Keay downgraded yesterday afternoon Rockwell Collins (COL) to Peer Perform following the company's agreement to be acquired by United Technologies (UTX).
09/11/17
BERN
09/11/17
DOWNGRADE
Target $137
BERN
Market Perform
Rockwell Collins downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Douglas Harned downgraded Rockwell Collins (COL) to Market Perform from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140/share. The analyst says the stock has moved above $130 related to the deal, and he is concerned that Rockwell Collins' acceptance of a $140 deal price indicates that internal forecasts are more pessimistic than his. He kept a $137 price target on Rockwell Collin's shares, but lowered hist target for United Technologies to $126 from $135, while reiterating a Market-Perform rating.
09/13/17
BARD
09/13/17
DOWNGRADE
BARD
Neutral
Rockwell Collins downgraded to Neutral from Outperform at Baird
Baird analyst Peter Arment downgraded Rockwell Collins (COL) to Neutral from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140 per share.
KLXI KLX Inc.
$47.34

0.57 (1.22%)

01/19/17
RHCO
01/19/17
INITIATION
RHCO
Buy
KLX Inc. initiated with a Buy at SunTrust
SunTrust analyst Michael Ciarmoli started coverage of KLX with a $53 price target and a Buy rating.
SPR Spirit AeroSystems
$75.32

0.61 (0.82%)

08/03/17
GHSC
08/03/17
UPGRADE
Target $83
GHSC
Buy
Spirit AeroSystems upgraded to Buy from Neutral at Seaport Global
Seaport Global analyst Josh Sullivan upgraded Spirit AeroSystems to Buy with and raised its price target to $83 from $62 following the establishment of an MOU with Boeing for the 737-MAX/787-9/787-10 long-term agreements. Spirit offers direct linkage to the aerospace cycle and the newly signed MOU is fair and equitable to both parties, the analyst wrote.
08/03/17
FBCO
08/03/17
NO CHANGE
Target $80
FBCO
Outperform
Spirit AeroSystems price target raised to $80 from $74 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Spirit AeroSystems (SPR) to $80 from $74 following the "surprise announcement" that the company had reached a key master pricing agreement with Boeing (BA). The analyst expects shares to be up strongly, followed by profit takers who, once the euphoria wears off, would resume worrying about aerostructures supplier disintermediation and the possible price reductions Spirit AeroSystems may have agreed to down the road. Spingarn reiterates an Outperform rating on Spirit AeroSystems' shares.
08/10/17
GSCO
08/10/17
UPGRADE
Target $68
GSCO
Neutral
Spirit AeroSystems upgraded to Neutral from Sell at Goldman Sachs
Goldman analyst Noah Poponak upgraded Spirit AeroSystems to Neutral and increased its price target to $68 from $54 telling investors the company has performed better on margins and free cash flow than he anticipated.
TGI Triumph Group
$27.25

0.25 (0.93%)

05/24/17
VERT
05/24/17
UPGRADE
VERT
Hold
Triumph Group upgraded to Hold from Sell at Vertical Research
05/25/17
STPT
05/25/17
DOWNGRADE
STPT
Reduce
Triumph Group downgraded to Reduce from Buy at Standpoint Research
05/25/17
05/25/17
DOWNGRADE

Reduce
Triumph Group downgraded to Reduce on valuation at Standpoint Research
As previously reported, Standpoint Research downgraded Triumph Group to Reduce from Buy. Analyst Ronnie Moas changed his views citing recent share strength.
07/24/17
JEFF
07/24/17
DOWNGRADE
Target $37
JEFF
Hold
Triumph Group downgraded to Hold from Buy at Jefferies
Jefferies analyst Sheila Kahyaoglu downgraded Triumph Group to Hold saying FY18 will largely be a transition year with "significant" cash outflows. Further, the analyst has a less optimistic outlook on Global 7000 production over the long term. Kahyaoglu keeps a $37 price target for the shares.
WAIR Wesco Aircraft
$8.75

0.15 (1.74%)

05/15/17
JEFF
05/15/17
UPGRADE
Target $9
JEFF
Hold
Wesco Aircraft upgraded to Hold from Underperform at Jefferies
Jefferies analyst Sheila Kahyaog upgraded Wesco Aircraft to Hold saying her thesis has played out with the stock down 40% since July 2016. New management could put an emphasis on sales growth and potentially improve profitability, Kahyaog tells investors in a research note. She raised her price target for the shares to $9 from $8.
05/01/17
SBSH
05/01/17
DOWNGRADE
Target $12.2
SBSH
Neutral
Wesco Aircraft downgraded to Neutral from Buy at Citi
Citi analyst Jason Gursky downgraded Wesco Aircraft to Neutral saying the negative Q2 preannouncement and "abrupt" CEO change suggests the "turnaround story is stalled." The analyst cut his price target for the shares to $12.20 from $16.
01/19/17
RHCO
01/19/17
INITIATION
RHCO
Buy
Wesco Aircraft initiated with a Buy at SunTrust
SunTrust analyst Michael Ciarmoli started coverage of Wesco with an $18 price target and a Buy rating.
10/07/16
RSBL
10/07/16
UPGRADE
Target $17
RSBL
Buy
Wesco Aircraft upgraded to Buy from Neutral at Rosenblatt
Rosenblatt analyst Chris Olin upgraded Wesco Aircraft to Buy and a $17 price target saying recent channel work suggests easing levels of congestion within the global aerospace fastener and class-c hardware channels, driving improved order growth in 2H 2016.
WWD Woodward
$72.50

1.17 (1.64%)

04/13/17
SPHN
04/13/17
INITIATION
Target $82
SPHN
Overweight
Woodward initiated with an Overweight at Stephens
Stephens analyst Drew Lipke initiated Woodward with an Overweight rating and $82 price target.
06/21/17
KING
06/21/17
INITIATION
Target $79
KING
Buy
Woodward initiated with a Buy at CL King
CL King initiated Woodward with a Buy and a $79 price target.
07/13/17
OPCO
07/13/17
INITIATION
Target $82
OPCO
Outperform
Woodward initiated with an Outperform at Oppenheimer
Oppenheimer analyst Christopher Glynn started Woodward with an Outperform rating and $82 price target, as he sees the company as being positioned for organic growth leverage and ramping utilization efficiencies following its investments.
07/14/17
07/14/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Safety, Income and Growth (safe) initiated with a Buy at Ladenburg. 2. News Corp. (NWSA) initiated with a Buy at Rosenblatt. 3. Woodward (WWD) initiated with an Outperform at Oppenheimer. 4. CBL & Associates (CBL) coverage resumed with a Hold at Stifel. 5. Supernus (SUPN) initiated with a Neutral at Janney Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

OHI

Omega Healthcare

$32.53

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F

Ford

$11.72

0.09 (0.77%)

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FDX

FedEx

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EE

El Paso Electric

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0.05 (0.09%)

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BBBY

Bed Bath & Beyond

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  • 19

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CPRT

Copart

$32.54

-0.32 (-0.97%)

18:11
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  • 20

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STLD

Steel Dynamics

$33.83

0.03 (0.09%)

18:04
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XBKS

Xenith Bankshares

$29.96

0.42 (1.42%)

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BMY

Bristol-Myers

$62.93

0.23 (0.37%)

17:54
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Breaking Periodicals news story on Bristol-Myers »

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BBBY

Bed Bath & Beyond

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  • 19

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DESP

Despegar.com

17:52
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Syndicate
Despegar.com 12.7M share IPO priced at $26.00 »

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  • 20

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WAC

Walter Investment

$0.65

0.186 (40.09%)

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CBAY

CymaBay

17:49
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Initiation
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BBBY

Bed Bath & Beyond

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Bed Bath & Beyond sees net drop in Bed Bath & Beyond stores in FY17 »

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  • 19

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EVH

Evolent Health

$15.65

-0.8 (-4.86%)

17:45
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Initiation
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  • 25

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BPL

Buckeye Partners

$56.33

0.64 (1.15%)

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RL

Ralph Lauren

$91.03

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PVH

PVH Corp.

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GEMP

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BBBY

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FDX

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ADBE

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KORS

Michael Kors

$46.18

1.53 (3.43%)

17:42
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Initiation
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LB

L Brands

$39.23

-0.75 (-1.88%)

17:42
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HBI

Hanesbrands

$24.71

-0.02 (-0.08%)

17:41
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Initiation
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BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

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  • 19

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GIII

G-III Apparel

$29.15

-0.26 (-0.88%)

17:41
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Initiation
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COH

Coach

$40.35

-0.12 (-0.30%)

17:40
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Initiation
Coach initiated  »

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