Spirit AeroSystems PT increased; focus on the potential agreement with Boeing – 08/05/2024 at 11:41

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

May 8 – **At least two brokerages raise the sale price of Spirit AeroSystems SPR.N after the aerospace supplier reported a wider-than-expected first-quarter loss on Tuesday

** RBC Capital Markets increases PT from $33 to $35

**The brokerage believes the stock has support based on investor confidence in the announcement of a deal with Boeing BA.N in the second quarter of 24

** Vertical Research Partners increases PT from $31 to $33

**SPR’s stock price reflects investors’ view that Boeing will ultimately have to pay at least the current stock price to get its hands on Spirit’s non-Airbus business

** Boeing’s talks to acquire Spirit have hit a roadblock due to complicated negotiations with European firm Airbus AIR.PA , which currently accounts for about a fifth of Spirit’s revenue

**11 out of 20 brokers rate the stock “buy” or higher, nine “hold”; their median forecast is $35.50

** Through Tuesday’s close, the stock was up ~4% year to date

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