Spirit AeroSystems price target raised to $36 from $32 at Canaccord Canaccord raised its price target on Spirit AeroSystems following clean Q1 results. The firm cited impressive sales growth, improved margins, and increased confidence in 2014 opportunity. Shares are Buy rated.
Aerospace sector downgraded to Neutral from Attractive at Goldman Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.