Market Overview

UPDATE: Sterne Agee Downgrades Spirit AeroSystems Holdings to Neutral

Share:
Related SPR
Earnings Scheduled For November 1, 2016
Watch These 5 Huge Put Purchases In Monday Trade

In a report published Friday, Sterne Agee Group downgraded its rating on Spirit AeroSystems Holdings (NYSE: SPR) from Buy to Neutral.

Sterne Agee noted, “Yesterday's announced pretax charges totaling $590 million tied to six new programs have dramatically changed our investment thesis on SPR. While SPR has healthy content on key ramping aerospace programs, its ability to expand profit levels and generate positive cash over the next several quarters is limited stemming from the profitless ramp of new programs. We have reduced our estimates and outlook for positive cash flow.”

Spirit AeroSystems Holdings closed on Thursday at $15.11.

Latest Ratings for SPR

DateFirmActionFromTo
Jan 2017RBC CapitalInitiates Coverage OnUnderperform
Dec 2016JP MorganDowngradesOverweightNeutral
Dec 2016Deutsche BankMaintainsHold

View More Analyst Ratings for SPR
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Downgrades Analyst Ratings

 

Related Articles (SPR)

View Comments and Join the Discussion!