HALISTER1: Spirit Aero Falls 3.8%, Most Since August, as BofAML Cuts Rating

Spirit Aero Falls 3.8%, Most Since August, as BofAML Cuts Rating

(Bloomberg) -- Spirit AeroSystems lowered to underperform from neutral at BofAML by analyst Ronald Epstein (PT $55 from $50); breaks 40-DMA $57.92).
  • Sees downside risk to announced production rates at Boeing/Airbus since commercial aerospace order cycle peaked in 2014
  • Cites declining monthly lease rates on 737-800s
  • SPR climbed 17% in 2016 due to better than expected execution on A350, higher share repurchases
  • SPR 9 buys, 8 holds, 3 sells; avg. PT $61: Bloomberg data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SPR US (Spirit AeroSystems Holdings Inc)
AIR FP (Airbus SE)

People
Ronald Epstein (Bank of America Corp)

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