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SPR

Spirit AeroSystems

$85.57

-0.12 (-0.14%)

, BA

Boeing

$380.02

2.48 (0.66%)

16:45
04/18/19
04/18
16:45
04/18/19
16:45

Boeing, Spirit Aero reach pact to cover production costs for B737 program

According to a regulatory filing, on April 12, 2019, Boeing (BA) and Spirit AeroSystems (SPR) executed a Memorandum of Agreement relating to Spirit's production of aircraft with respect to the B737 program. As previously announced by the company on April 5, 2019, Spirit will maintain its delivery rate of 52 shipsets per month with respect to the B737 program following Boeing's announced temporary adjustment in the production rate from 52 to 42 aircraft per month. The MOA establishes that all B737 shipsets produced in excess of Boeing's production rate will be deemed to be delivered to Boeing "FOB" at Spirit's facilities, which will trigger Boeing's payment obligations for the excess shipsets. Pursuant to the MOA, if requested by Boeing and Spirit has available storage space, Spirit will maintain the excess shipsets at Spirit's facilities; however, title to and risk of any loss of or damage to the excess shipsets will be transferred to Boeing except to the extent loss or damage results from Spirit's fault or negligence. Pursuant to the MOA, Spirit has agreed to be responsible for any incremental costs associated with storage of the excess shipsets. The parties also agreed to certain advance payments for material purchases. The MOA is effective as of April 12, 2019 and continues until May 1, 2020.

SPR

Spirit AeroSystems

$85.57

-0.12 (-0.14%)

BA

Boeing

$380.02

2.48 (0.66%)

  • 24

    Apr

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    Apr

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    Apr

  • 01

    May

  • 29

    May

  • 05

    Jun

SPR Spirit AeroSystems
$85.57

-0.12 (-0.14%)

04/03/19
COWN
04/03/19
DOWNGRADE
COWN
Market Perform
Spirit AeroSystems downgraded to Market Perform from Outperform at Cowen
04/03/19
COWN
04/03/19
DOWNGRADE
Target $95
COWN
Market Perform
Spirit AeroSystems downgraded to Market Perform from Outperform at Cowen
Cowen analyst Cai von Rumohr downgraded Spirit AeroSystems (SPR) to Market Perform from Outperform with a $95 price target, saying that increased potential for a 737 rate adjustment will likely offset the expected upside from the Asco acquisition. With a lower 2020 cash flow yield than Boeing (BA) and less pricing power, the analyst says Spirit (SPR) looks fairly priced.
04/08/19
ADAM
04/08/19
DOWNGRADE
ADAM
Hold
Spirit AeroSystems downgraded to Hold from Buy at Canaccord
04/08/19
ADAM
04/08/19
DOWNGRADE
Target $92
ADAM
Hold
Spirit AeroSystems downgraded to Hold from Buy at Canaccord
Canaccord analyst Ken Herbert downgraded Spirit AeroSystems (SPR) to Hold from Buy and lowered his price target to $92 from $100 after Boeing (BA) announced that it is lowering 737 production levels to 42 per month starting in mid-April. In a research note to investors, Herbert says that while Spirit has said it will continue to produce at a rate of 52 per month, he feels the slight adjustment adds incremental margin and free cash flow pressure in 2019, and believes the 737 MAX grounding will contribute to near-term headline risk.
BA Boeing
$380.02

2.48 (0.66%)

04/09/19
GSCO
04/09/19
NO CHANGE
Target $393
GSCO
Neutral
Boeing price target lowered to $393 from $420 at Goldman Sachs
Goldman Sachs analyst Noah Poponak lowered his price target on Boeing to $393 and kept his Neutral rating, saying he has been surprised by the "benign expected set of scenarios" by investors as the company investigates the recent 737 MAX events. In his conversations with investors, there seems to be "minimal overall concern with medium to long term earnings and free cash estimates" for Boeing as investors expect the company to figure out the software fix relatively quickly, the analyst writes in his research note. Poponak states however that these assumptions carry some risk, with a "non-zero chance of more than a software change given the structural changes to the airplane made for the MAX vs. the NG" model", and could impact longer-lasting impact on Boeing's 737 MAX aircraft demand.
04/10/19
JPMS
04/10/19
NO CHANGE
Target $430
JPMS
Overweight
Boeing price target lowered to $430 from $450 at JPMorgan
JPMorgan analyst Seth Seifman lowered his price target for Boeing to $430 from $450 after updating his model for the company's "roughly in line" Q1 deliveries. However, "at this stage, modeling Boeing requires major assumptions for which there is little basis right now," Seifman tells investors in a research note. Uncertainties center around the span of the MAX delivery halt, how quickly Boeing might flush out MAX inventory when the halt is lifted, and how management plans to guide with Q1 results, says the analyst. He keeps an Overweight rating on Boeing shares.
04/11/19
04/11/19
NO CHANGE

Boeing CEO says conducted 100 test flights with fixed 737 MAX software, WSJ says
The Wall Street Journal's Andrew Tangel reports that Boeing CEO Dennis Muilenburg, making his first public remarks since the Ethiopian Airlines crash of 737 MAX last month, indicated that the software changes being made will make the aircraft "even safer". Muilenburg noted that Boeing engineers have been "working tirelessly in collaboration with the Federal Aviation Administration to finalize and implement a software update that will ensure accidents like these never happen again". The CEO added that the company has already conducted nearly 100 test flights of the fixed 737 MAX software since it grounded the aircraft last month. Reference Link
04/18/19
WBLR
04/18/19
INITIATION
WBLR
Outperform
Woodward initiated with an Outperform at William Blair
William Blair analyst Nicholas Heymann started Woodward (WWD) with an Outperform rating saying the stock offers 15%-20% upside over the next 6-12 months. After six years of "robust" investment for new capacity and products, Woodward is entering a period of accelerating profitable organic growth. He believes the company is "exceptionally well positioned" to generate "sustainable" double-digit earnings growth despite the current Boeing (BA) 737 Max grounding.

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Ziopharm

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TGTX

TG Therapeutics

$7.11

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KPTI

Karyopharm

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IPHA

Innate Pharma

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REGN

Regeneron

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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

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BPMC

Blueprint Medicines

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3.92 (5.26%)

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PCG

PG&E

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SYRS

Syros Pharmaceuticals

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