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BA

Boeing

$341.60

-8.23 (-2.35%)

, SPR

Spirit AeroSystems

$81.07

-0.41 (-0.50%)

05:22
06/03/19
06/03
05:22
06/03/19
05:22

Boeing says one batch of slat tracks found to have a potential nonconformance

Boeing (BA) said yesterday in a statement that it is working with the Federal Aviation Administration and has contacted 737 operators advising them to inspect the slat track assemblies on certain airplanes. "One batch of slat tracks with specific lot numbers produced by a supplier was found to have a potential nonconformance. If operators find the parts in question, they are to replace them with new ones before returning the airplane to service," Boeing announced. Slat tracks are used to guide the slats located on the leading edge of an airplane's wings. Boeing has not been informed of any in-service issues related to this batch of slat tracks. Boeing is now "staging replacement parts at customer bases to help minimize aircraft downtime while the work is completed. Once the new parts are in hand, the replacement work should take one to two days. Boeing will also issue a safety service bulletin outlining the steps to take during the inspections." Boeing has identified 21 737 NGs most likely to have the parts in question. A separate service bulletin will go to 737 MAX operators to do inspections before the MAX fleet returns to service, added the company. Boeing identified 20 737 MAX airplanes that are most likely to have the parts in question. Operators will be asked to check an additional 159 MAXs to ensure a thorough assessment. Boeing has identified Spirit AeroSystems (SPR) as the supplier of the faulty slat tracks, according to Bloomberg. Reference Link

BA

Boeing

$341.60

-8.23 (-2.35%)

SPR

Spirit AeroSystems

$81.07

-0.41 (-0.50%)

  • 05

    Jun

BA Boeing
$341.60

-8.23 (-2.35%)

05/17/19
BARD
05/17/19
NO CHANGE
Target $470
BARD
Outperform
Boeing designated as bullish Fresh Pick at Baird
Baird analyst Peter Arment designated Boeing as a bullish Fresh Pick, saying he expects the path for the 737 MAX un-grounding to become more clear after the upcoming meeting on May 23 with the FAA and global regulators. The software fix is tracking to be certified within days with FAA regulatory approval taking the lead and other major global regulators set to approve shortly thereafter, Arment tells investors in a research note, adding that this sets up 737 deliveries to re-commence in the third quarter. Arment, who maintains an Outperform rating and $470 price target, says he remains comfortable buying Boeing at current levels for both short and long term investors.
05/24/19
RHCO
05/24/19
NO CHANGE
Target $137
RHCO
RBC Bearings price target raised to $137 from $125 at SunTrust
SunTrust analyst Michael Ciarmoli raised his price target on RBC Bearings (ROLL) to $137 after its Q4 earnings beat and above-consensus outlook for Q1, saying the declines in its organic industrial revenue growth were offset by strength in the aerospace segment along with backlog growth and record margins. The analyst believes the company can sustain continued growth acceleration this year given the "manageable" risks related to Boeing's (BA) 737 MAX grounding, forecasting up to 100bps in margin expansion during FY20. Ciarmoli also keeps his Hold rating on the shares based on RBC Bearings' "full valuation."
05/24/19
MSCO
05/24/19
NO CHANGE
Target $500
MSCO
Overweight
Morgan Stanley keeps Overweight rating on Boeing after 'good enough' FAA meeting
Morgan Stanley analyst Rajeev Lalwani said he views the FAA meeting on May 23 with global regulators on the status of the 737 MAX as supportive of Boeing and "good enough" given that there were no major setbacks in progressing on the return to service of the MAX, there appeared to be a collaborative approach among aviation authorities and a 1-2 month timeline was not ruled out. Lalwani, who thinks the dialogue is shifting more towards when the aircraft can get back into service as opposed to if, said he remains comfortable with his Overweight rating and $500 price target on Boeing shares, especially with the shares down about 20% from their recent highs.
05/28/19
EVER
05/28/19
DOWNGRADE
Target $60
EVER
In Line
Southwest downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Duane Pfennigwerth downgraded Southwest Airlines (LUV) to In Line from Outperform with a $60 price target, pointing to the negative impact that the grounding of Boeing's (BA) 737 MAX jet has had on the air carrier. In a research note to investors, Pfennigwerth says Southwest's inability to grow is due to its reliance on the 737 MAX, and in return for betting on the MAX as its longer-term growth platform, Southwest has gotten operational "headaches," lost market share and likely short-term impact to its brand when the MAX returns to service. The analyst sees Southwest shares as range bound until the MAX formally returns to service.
SPR Spirit AeroSystems
$81.07

-0.41 (-0.50%)

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.

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LMAT

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WE

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KOD

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ADVM

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ADVM

Adverum Biotechnologies

$5.29

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COP

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T

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$37.58

0.17 (0.45%)

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$45.53

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1.02 (2.29%)

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SNE

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LGF.A

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DIS

Disney

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VIAB

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VIA

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PCG

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0.3 (3.86%)

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KBH

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BX

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GOOG

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SPX

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AGN

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LYFT

Lyft

$39.49

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Uber

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LYFT

Lyft

$39.49

1.8 (4.78%)

UBER

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1.19 (4.12%)

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GM

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MRK

Merck

$84.31

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Merck

$84.31

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JNJ

Johnson & Johnson

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HMTV

Hemisphere Media

$11.70

0.05 (0.43%)

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PFE

Pfizer

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CNCE

Concert Pharmaceuticals

$5.85

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INCY

Incyte

$76.14

0.38 (0.50%)

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LLY

Eli Lilly

$108.37

1.54 (1.44%)

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