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Fly News Breaks for January 27, 2020
Jan 27, 2020 | 06:54 EDT
Citi analyst Jonathan Raviv lowered his price target for Spirit AeroSystems to $90 from $95 and keeps a Buy rating on the shares. While Spirit is primarily a 737 story for now as it represents 50% of sales, wide-body, at 30% of sales, still matters, Raviv tells investors in a research note. The analyst says that Citi's recently published wide-body deep dive suggests that current production rates are sustainable. Raviv, who cut his price target to reflect delayed free cash flow normalization and risks around the eventual production ramp, sees enough share upside to warrant a Buy rating.
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