Spirit AeroSystems upgraded to Buy from Hold at Canaccord Canaccord upgraded Spirit AeroSystems following a management meeting and said it has increased confidence in a successful sale of the Tulsa operations. The firm believes management is taking the appropriate actions to improve cash flow and de-risk operations. Price target raised to $38 from $28.
News For SPR From The Last 14 Days
Check below for free stories on SPR the last two weeks.
Spirit AeroSystems, Boeing amend supply agreement Spirit AeroSystems (SPR) disclosed in a regulatory filing that on April the company entered an agreement with Boeing (BA) amending Spirit’s long-term supply agreement with Boeing covering products for Boeing’s B737, B747, B767 and B777 commercial aircraft programs. The amended agreement establishes pricing terms for recurring products for the period commencing on April 1 and ending on December 31, 2015. Prices will continue to be adjusted each year based on a quantity-based price adjustment formula described in the agreement, whereby average per-unit prices are higher at lower volumes. Prices continue to be subject to other adjustments provided for under the agreement. The new pricing terms will not be applied to the period prior to April 1. Spirit does not expect the amended agreement to have a material impact on previously announced EPS guidance.