SPR Reports Disappointing Q4 Results, 2010 Guidance
Analysts at JP Morgan maintain their "neutral" rating on Spirit AeroSystems (NYSE: SPR), while reducing their estimates for the company. The target price for SPR has been reduced from $19 to $18.
Spirit AeroSystems reported its Q4 EPS significantly short of the estimates due to surprise charges and weak cash flows. SPR has issued a disappointing guidance for 2010.
“We do not see the issues raised in Q4 - risk of surprise charges, lack of margin visibility, and weak cash flow - going away soon, and we therefore remain cautious on the stock,” the analysts add. JP Morgan has reduced its EPS estimates for FY10 and FY11 from $1.90 to $1.65 and from $1.75 to $1.65, respectively.
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