Spirit AeroSystems trading resumes 09:4303/3003/30/20
Spirit AeroSystems trading halted, volatility trading pause 09:3803/3003/30/20
|Over a week ago|
Spirit AeroSystems trading resumes 09:4103/2403/24/20
Spirit AeroSystems trading halted, volatility trading pause 09:3703/2403/24/20
Spirit AeroSystems suspends Boeing production work » 07:3203/2403/24/20
SPR, BA, EADSY
Spirit said, "Following Boeing's (BA) announcement to temporarily suspend production at its Washington state facilities, Spirit AeroSystems (SPR) will also suspend Boeing work performed at our facilities in Wichita, Kansas, and in Tulsa and McAlester, Oklahoma. This action will begin Wednesday, March 25, and last 14 calendar days, until April 8. Spirit will continue to support 787 work for Boeing's Charleston, South Carolina, facility as needed. We will continue to pay employees who are sent home during this two-week period due to the suspension of Boeing work. Spirit will use the time to further deep clean and sanitize work spaces and facilities as we continue to take precautions to protect the health and safety of our team. Our focus is on a safe and orderly restart of operations. When production does resume on our Boeing programs, we will align our costs and workforce to the new level of production set by Boeing. This could potentially include additional workforce actions. Operations in support of our defense customers, Airbus (EADSY), aftermarket and MRO, third party fabrication work, other non-Boeing work, and other growth programs will continue. Those employees should expect to work their regular schedules. Spirit continues to monitor ongoing events as result of the COVID-19 pandemic and will take precautions and make adjustments to its operations as needed for the safety of our team."
Spirit AeroSystems trading resumes 13:3003/1803/18/20
Spirit AeroSystems trading halted, volatility trading pause 13:2503/1803/18/20
Spirit AeroSystems upgraded to Buy from Neutral at Goldman Sachs » 06:4603/1103/11/20
Goldman Sachs analyst…
Goldman Sachs analyst Noah Poponak upgraded Spirit AeroSystems (SPR) to Buy from Neutral with an unchanged price target of $58. While the situation with the Boeing (BA) MAX and the impact of COVID-19 on Aerospace both certainly present risk, he believes the risk/reward is now skewed substantially to the upside with the stock down 50% from just prior to the 737 MAX production halt, Poponak tells investors. If the MAX and COVID-19 issues are resolved relatively favorably, Spirit's free cash flow could reach $9 per share in 2023, the analyst said.
|Over a month ago|
Spirit AeroSystems price target lowered to $50 from $66 at SunTrust » 09:4303/0203/02/20
SunTrust analyst Michael…
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.
Spirit AeroSystems faces 'steep climb back to normal,' says Jefferies » 07:1003/0203/02/20
Jefferies analyst Sheila…
Jefferies analyst Sheila Kahyaoglu lowered the firm's price target on Spirit AeroSystems (SPR) to $59 from $75 and keeps a Hold rating on the shares after the company's Q4 results, which were impacted by the headwind of the continued grounding of Boeing's (BA) 737 MAX as well as a price step-down on the Airbus (EADSY) A350. Spirit management has several items to juggle in 2020, which will be a difficult transition year, and Kahyaoglu sees a "steep climb back to 'normal' in 2022," the analyst tells investors.